Hsidc To Develop Industrial Township In Manesar

The proposed Industrial Model Township (IMT) at Manesar, near Gurgaon, will be developed by the Haryana State Industrial Development Corporation (HSIDC).

The three Japanese companies, which had earlier sought the township project, have withdrawn their proposal.

R S Varma, chief secretary of the state government and Haryana State Industrial Development Corporation chairman, said the corporation has acquired 1,736 acres of land for the project.

Under the state government's original plan, the proposed township will be developed as an integrated industrial park.

A decision to this effect was taken at a meeting of the corporation's board of directors here Friday.

It plans to engage an agency to execute the works on contract basis.

 

About 40 hi-tech ancillaries of Maruti Udyog Ltd, including Denso India, have opted for the model township as their location, said Verma.

He said the corporation has earmarked Rs 200 crore for building infrastructure of the township in 1997-98.

It has drawn up plans to develop industrial estates in the proposed township.

A land bank consisting of more than 5,000 acres at strategic locations throughout the state is expected to be created soon.

The corporation recorded a 30 per cent rise in net profit to Rs 7.90 crore (before special reserves, provisions and tax) in 1996-97. Net profit stood at Rs 6.06 crore in the previous corresponding period.

Income during the current year has exceeded the targets at Rs 33.81 crore, up 35 per cent from last year.

Sanctions have touched Rs 117.51 crore and disbursement of term loans rose by 46 per cent at Rs 66 crore over last year. The over-all recovery position was 75 per cent of its outstanding, up from 72 per cent last year.

Sanctions under lease financing have registered a marginal increase, from Rs 4.61 crore to Rs 4.70 crore this year.

The corporation's public deposit scheme attracted Rs 15.91 crore, up from Rs 5.8 crore deposited during the previous year, showing an increase of 213 per cent.