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State to sell unused industrial estates

IN A bid to find more productive use for its assets, State Government will sell off all earmarked, underdeveloped and unsold industrial estates of MP to private developers.

india Updated: May 29, 2006 20:05 IST

IN A bid to find more productive use for its assets, State Government will sell off all earmarked, underdeveloped and unsold industrial estates of MP to private developers.

State Commerce and Industry Ministry finalised a proposal to this effect on May 23 according to which Centre for Entrepreneurship Development Madhya Pradesh (CEDMAP) will act as facilitator.  The Ministry will float global tenders to invite expression of interest from top multinational companies within 15 days.

According to CEDMAP officials, the lands will be sold off on condition that they would be used mainly for industrial purpose. The conditions enlisted in the proposal state that 70 per cent of the land should be used for industrial activity, 20 per cent could be used for commercial purposes like setting up malls, multiplexes while 10 per cent could be allocated for residential use.

Large chunks of industrial land across the State are lying unused due to lack of local entrepreneurship, power shortage, poor connectivity and lack of adequate infrastructure. Incidentally, most of them are Audyogik Kendra Vikas Nigam (AKVN) growth centres.

As per official records, 200 acres of land is lying unused Malanpur industrial area (Bhind district), 150 acres in Banmore (AKVN growth centre in Morena district), 100 acres in Jabalpur, 50 acres at Pithampur (Dhar district), 50 acres in Dewas, 50 acres in Siya (Dewas district). AKVN centres at Jaggakhedi (Mandsaur district) and Nimrani (Khargone district) are more or less vacant. 

The State Government woke up after Union Government released a report, which said that the contribution of Madhya Pradesh to country’s economic development has not been commensurate with its rich abundant natural resources, easy availability of land, cheap labour and relatively peaceful atmosphere and therefore its industries and service sector could not grow at the required rate.

Though AKVN Managing Director Ashish Shrivastav was unavailable for comment, his office confirmed that the Ministry had finalised the proposal and Industry Minister Babulal Gaur would make an announcement soon to this effect.