State corporation to float four companies | delhi | Hindustan Times
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State corporation to float four companies

delhi Updated: Jul 27, 2011 23:46 IST
Atul Mathur
Atul Mathur
Hindustan Times

Known for promoting industrial growth in Delhi, construction activities and running liquor vends, the Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) will soon get into import and export, providing energy services to organisations and importing foreign liquor.

With its profits on an upward swing, the corporation has decided to float four more companies.

While one company will take care of maintenance of industrial estates, another company will import choicest of liquor brands. The other two companies will foray into providing energy solutions and running its existing liquor vends in the Capital.

“The four companies — DSIIDC Energy, DSIIDC Liquor, DSIIDC Maintenance and DSIIDC Impex — will be wholly-owned subsidiary of DSIIDC. We are starting these companies with an initial equity of Rs 1 crore each. We will appoint managing directors soon,” said DSIIDC chairman Chetan B Sanghi. He said DSIIDC has signed an agreement with two industrial estates — Bawana and Narela — for their maintenance for 15 years at Rs 27 crore per year on PPP basis.

The Corporation will also start maintaining 28 industrial estates that are currently maintained by the MCD. DSIIDC Energy Ltd has already executed two major projects, illuminating Jantar Mantar and Safdurjung Tomb using solar energy. The Corporation has submitted its proposal to carry out similar lighting work at Red Fort and Lotus Temple.