Rs 400-cr funding to push infra projects at Sitarganj

The SIDCUL investment will create state-of-the-art industrial infrastructure facilities in the Sitarganj industrial estate

The government-run State Infrastructure and Industrial Development Corporation of Uttarakhand Limited (SIDCUL), which is credited for developing Pantnagar and Haridwar industrial estates, is planning to invest Rs 400 crore in Sitarganj industrial estate to develop the state-of-the-art industrial infrastructure facilities there.

“Very shortly we will be starting our infrastructure works at Sitarganj that will be the biggest attraction for the industry to set up new units there,” said Shailesh Bagauli, Managing Director (MD) of the cash-rich SIDCUL.

Be it roads or streetlights, all the things which are concerning the Sitarganj industrial estate will be state-of-the-art, said Baguali, who is also additional secretary industrial development in the state.

The Sitarganj industrial estate in Kumaon region has been officially christened as SIDCUL-Phase-II which will be spread over an area of 1,700 acres. In the month of April, the state government had started the process of allotting industrial plots at SIDCUL-II under the mega industrial policy where it is offering a slew of sops for new units that entail an investment of more than Rs 75 crore. The government is also offering 50 per cent rebate on the stamp fees, one per cent relief in central sales tax (CST) and other incentives for mega units at Sitarganj. Till now, companies like DS Group, CHD Developers and Ural India Group had already been given about 500-550 acres of land at Sitarganj entailing investments of Rs 1,400 crore.

But the big worry before the SIDCUL is the worsening industrial scenario in the country where the rupee has depreciated considerably due to which reputed business houses are shying away from further investments in Uttarakhand.

For developing the infrastructure facilities, the SIDCUL has hired three consultants – Engineers Project India Ltd (EPIL), National Buildings Construction Corporation Ltd (NBCC) and Uttar Pradesh Rajkiya Nirman Nigam (UPRNN) Ltd.

With Chief Minister Vijay Bahuguna’s focus shifting to the reconstruction and rehabilitation activities in the state in the wake of the June 16-17 deluge, the industrialisation process has suffered considerably. But the government is confident that the investment scenario will improve in future. “Yes, the industrialisation process is not showing desired results. But as soon as our infrastructure activities at Sitarganj starts, we will start getting good proposals from the industry,” claims additional chief secretary Rakesh Sharma.

Sharma also claimed that the government would launch renewed campaign to attract industry to Sitarganj, which is the assembly constituency of the CM also.