INDORE: Ten industries have received land allotments in the under-development Sector 7 industrial area in Pithampur till date, whilst five industries are in the discussion stage with the industries department for establishing manufacturing units.
Madhya Pradesh Industrial Development Corporation (MPIDC) has allocated approximately 124 hectare land to 10 industries including Sai Machine Tools, Aquatic Pipes & Tubes Pvt Ltd, Mantram Industries Pvt Ltd, OFB Tech Pvt Ltd, Febyan Textile Pvt Ltd amongst other industries in Sector 7.
These ten industries have collectively proposed an investment of nearly Rs 3,000 crore and are expected to generate employment opportunities for approximately 6,000 people.
“We have allocated land to 10 industries in Sector 7 thus far. The proposed amount for investment is approximately Rs 3,000 crore. Pithampur is the most preferred area for industrial development and industries across sectors perceive this as an ideal location for establishing factories. To accommodate fresh investment proposals, we are augmenting the land bank and developing this new industrial area,” said Rajesh Rathod, executive director, MPIDC, Indore.
For developing the Sector 7 industrial area, MPIDC is pooling private land in the region and is in the process of receiving consents of pooled land from landowners. The department has pooled approximately 400 hectare from private entities thus far for developing the industrial belt and has received consents for more than 150 hectare.
The proposed industrial belt Sector 7 in Pithampur is being developed across more than 2,232 hectares, with a substantial portion of the land, approximately 1,351 hectares, to be procured from private landowners. The estimated development expenditure of the project is approximately Rs 2,400 crore.
As per the land pooling terms, the state government has declared that 20 percent of the compensation amount would be disbursed in cash, whilst the remaining 80 percent would be provided as developed residential or commercial plots.
