The Karnataka government has submitted a plan to set up a mega industrial zone on the outskirts of Bangalore to the Union government under the new national manufacturing policy.
The National Investment and Manufacturing Zone (NIMZ) is planned for Tumkur, around 70kms from Bangalore. Under the manufacturing policy, an NIMZ is spread over 50-100 sq. kms.
Two NIMZs have also been proposed for Bellary and Dharwad, but the plans are yet to be forwarded to the Union government..
Crisil Risk and Infrastructure Solutions Ltd has prepared pre-feasibility reports for Tumkur and Dharwad. According to the report on Tumkur zone, the project is envisaged as a public-private partnership, with viability gap funding (VGF) from the state and the central governments.
The KSIIDC official said it would cost around Rs.30,000 crore to develop the zone, but the Crisil report said it was premature to develop cost estimates. The report said Tumkur was chosen with Bangalore in mind.
Tumkur also has substantial iron ore reserves and will be suitable for ancillary industries as well, the report noted.
The central government’s VGF is expected to allow financing of up to 20%, while the state is expected to provide a VGF mechanism of an additional 20%.
The new manufacturing policy is an initiative of the department of industrial policy and promotion to push the sector and boost growth. Under the scheme, the government will help set up manufacturing zones with robust physical infrastructure.
The government has notified nine NIMZs—one each in Haryana, Gujarat, Uttar Pradesh and Madhya Pradesh, two in Rajasthan and three in Maharashtra.
The zone will be managed by a special purpose vehicle and its development will be managed via special business units selected by the SPV.
1 comment:
42 times times the size of Electronic city?That is one to look forward to as it decreases pressure by building more homes.People may also switch from Residential plots in Bangalore to this,who knows?
Post a Comment