Bihar Govt allows private industrial areas
Updated: Jan 18, 2014 02:14:16pm
Patna, Jan 18 (KNN) In order to facilitate industrial development in the state, the Bihar government has approved the scheme for establishment of private industrial areas through special purpose vehicles (SPVs) and those owning more than 25 acres of land can take up such projects.
“Landowners collectively owing more than 25 acres land can set up private industrial area through SPV registered under Companies Act/Society Registered Act,” Directorate of Industries, Government of Bihar, said in a notification. The landowners will transfer the ownership of land to the SPV.
Earlier, the Directorate of Industries had said, “It has been experienced that desired industrial progress has not been achieved due to difficulties in providing land by the Government for setting up of industrial units.The units set up in the private industrial area, shall be entitled to the benefits and incentives as prescribed under the Bihar Industrial Incentive Policy, 2011.
“Exemption of stamp duty/ registration charge/ conversion fee shall also be allowed under the Bihar Industrial Incentive Policy, 2011 on transfer of land by landowners to the SPV,” the notification added.
A State Level Project Assessment and Monitoring Committee (PAMC) has been constituted under the Chairmanship of Development Commissioner. In this context, the Directorate of Industries has proposed to appoint a Project Monitoring Agency (PMA) to assist the PAMC in the effective discharge of its functions like- technical and financial appraisal of Master Plan and Detailed Project Report (DPR).
Further, PMA will also assist the State Level Committee in monitoring and evaluation of financial assistance provided to the unit and its utilization. (KNN/SD)
“Landowners collectively owing more than 25 acres land can set up private industrial area through SPV registered under Companies Act/Society Registered Act,” Directorate of Industries, Government of Bihar, said in a notification. The landowners will transfer the ownership of land to the SPV.
Earlier, the Directorate of Industries had said, “It has been experienced that desired industrial progress has not been achieved due to difficulties in providing land by the Government for setting up of industrial units.The units set up in the private industrial area, shall be entitled to the benefits and incentives as prescribed under the Bihar Industrial Incentive Policy, 2011.
“Exemption of stamp duty/ registration charge/ conversion fee shall also be allowed under the Bihar Industrial Incentive Policy, 2011 on transfer of land by landowners to the SPV,” the notification added.
A State Level Project Assessment and Monitoring Committee (PAMC) has been constituted under the Chairmanship of Development Commissioner. In this context, the Directorate of Industries has proposed to appoint a Project Monitoring Agency (PMA) to assist the PAMC in the effective discharge of its functions like- technical and financial appraisal of Master Plan and Detailed Project Report (DPR).
Further, PMA will also assist the State Level Committee in monitoring and evaluation of financial assistance provided to the unit and its utilization. (KNN/SD)
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