HSIIDC mobilises term-loan business of Rs 140 cr with Rs 255 cr investment

The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) mobilised term loan business of Rs 140 crore in a business meet organised at the Delhi office. According to Rajiv Arora, the Managing Director of HSIIDC, 15 term loan proposals were received by the corporation in a single business meet for assistance ranging from Rs 1.40 crore to Rs 25 crore. Besides, there were a number of enquires also received from various entrepreneurs on a loan assistance schemes of the corporation, he explained.

Arora apprised that, these projects when implemented would catalyse an investment of over Rs 255 crore besides generating valuable employment and revenue for the state exchequer. The proposals received during the business meet envisaged setting up projects in the areas of automobile components, embroidery garments, hotels, packaging and shoe manufacturing. These projects were being set up in the industrial estates at Gurgaon, Manesar, Kundli, Rai, Barhi, Faridabad and Dharuhera.

The major proposals received during the business meet envisaged setting up for projects by M/s Bikaner Foods, that has been sanctioned a loan of Rs 25 crore with an investment Rs 52 crore for setting up a project for manufacturing of food products in Food Park at Rai.

Other firm that has been sanctioned a term loan of Rs 30 crore with an investment of Rs 37 crore includes M/s Mars Mech-Tech for setting up manufacturing units for building hardware at Mahilapur and sanitary ware fitting unita at

Bawal. Another company has been sanctioned term loan of Rs 15 crore to M/s B M Processing Industries for setting up a Yarn Dyeing unit at Phase-II at Bawal. Rs 21 crore term loan has been sanctioned to M/s Lakshmi Precession Screw with an investment of Rs 37 crore for manufacturing of Fasteners at IMT Rohtak.

Apart from these companies, some more have been sanctioned term loans, like synthetic leather by M/s Klassic Lamitex, manufacturer of knitting & processing of fabrics by M/s Ambika Knit, manufacturer of readymade garments for exports by M/s Vineetaz Exports, manufacturer of electric cables by M/s H B Electricals, manufacturer of industrial gears by M/s Trina Quebec Gears Ltd, setting up of hotels by M/s Optus Hotels, setting up of car serving centre by M/s Palm Motors, manufacturers of bright steel wires & bars by M/s Joneja Bright Steels, manufacturers of steel forging for automobiles by M/s Logwell Forge Limited, manufacturing unit of hydraulic presses by M/s Hind Hydraulics & Engineers, setting up embroidery unit by M/s Premsons Embroidery and more.

The meet was organised with an objective to provide term loan assistance to the entrepreneurs at their door steps and to disseminate information regarding financial and other services of the corporation among them. Arora further informed the interaction with entrepreneurs provided a platform to HSIIDC to get required feedback which helped the corporation to recast its policies and strategies to match the growing requirements of industry. The business meet was necessary to understand the changing needs of the industry and the problems faced by them, he added.

The corporation regularly holds such business meets from time to time to help entrepreneurs meet their financial requirements expeditiously by providing services at their doorsteps. Business meetings are excellent opportunities to share information, formulate creative ideas, strategies and enhance workplace morale.