MPIDC Identifies Over 300 Hectares To Develop New Industrial Belts In State

(MENAFN- KNN India) Indore, Nov 29 (KNN) Madhya Pradesh Industrial Development Corporation (MPIDC) has identified around 300 hectares in Dhar and Neemuch for developing new industrial areas.

The primary aim of this move is to expand industrial areas beyond densely occupied Pithampur and Dewas.

As per reports, the MPIDC has added 294 hectare of undeveloped land in different villages of Dhar, Indore and Neemuch in the last 6 months amid growing demand for undeveloped land from industries.

MPIDC Indore executive director Rajesh Rathod said,“There has been a change in inclination and demand of industries in recent years. Industries are eyeing to make big investments in this region and demand large chunks of undeveloped land as they prefer developing it as per their own requirement and get policy benefits on raw land.”

MPIDC said they have proposals and enquiries from pharmaceutical, textile, plastic packaging and automobile among other industries. Upfront discounts on land prices for undeveloped land and competitive prices are attracting industries and about one fifth of total industries have chosen undeveloped land parcels for setting up their projects.

“Companies that have plans for phase wise investments prefer to take undeveloped land as they can customize their land use as per their current and future requirements catering to new investments and expansions,” said Rathod.

(KNN Bureau)


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