MANISH GUPTA
Ranchi, Oct 8: Jharkhand industry department has drafted a new industrial park policy with an investment subsidy of up to Rs 40 crore for developing industrial and logistics parks to strengthen industrial infrastructure in the state for rapid industrialisation.
“The policy aims at setting up of private, joint venture and PPP mode industrial parks, logistic parks and logistic units with all necessary industrial infrastructures,” reads the Jharkhand Industrial Park and Logistic Policy 2022 drafted by the department.
The policy will have provisions for incentives for private industrial parks, joint ventures and PPP mode industrial park; multi modal logistic park, logistic park and logistic unit. It replaces the Jharkhand Industrial Park Policy 2015 that expired last September.
The Comprehensive Project Investment Subsidy (CPIS) for industrial parks is 50% of the project cost with a maximum of Rs 40 crore for industrial areas above 75 acres and a minimum of Rs 7 crore for industrial areas above 10 acres, as per the policy draft.
The new policy will run for five years from the date of notification. It aims to upgrade and improve the existing warehousing capacity and logistics infrastructure in the state to boost economic activities and generate mass employment opportunities.
A special focus has been laid on to support the MSME industrial units and also to attract MSME players in the logistics sectors through this policy. The units can mortgage the allotted plot with commercial banks for securing loan of that industrial unit.
The state government has resolved to ensure that land, which has been a major hurdle in setting up industries, does not remain a constraint. The private institution can procure land directly and JIADA land can also be made available as per existing lease rules.
The Single Window Clearance Committee, which will examine the proposals, will give its recommendation within 60 days from the date of submission of proposal. Thereafter the Minister of Industries will either approve or reject the proposal for parks.
The master plan for the industrial parks will allot 60% of developed land for industrial units and 40% for MSMEs. The developers will ensure that 33% of the total land will be allotted for common use infrastructure or green/ open space, the policy noted.
The industrial parks on land up to 25 acres will have to be commissioned within 3 years, those up to 50 acres 4 years, up to 75 acres 5 years and above 75 acres 6 years.
In logistics infrastructure, the policy incentivizes Multi Modal Logistics Park, logistics parks and logistics units. An MMLP has been defined as a multimodal freight-handling facility with a minimum area of 50 acres and a minimum investment of Rs 50 crore.
Apart from the investment subsidy, 5% annual interest subsidy for 5 years will be given on loans taken for material handling equipment, loading-unloading plant and machinery and others in common facilities centres subject to maximum of Rs 2 crore per annum per unit with an overall ceiling of Rs 10 crore.
More 5% subsidy will be given on loans to set up automated supply chain technology in material handling, cargo transportation and decongesting cargo traffic to a maximum ceiling of Rs 1 crore per park. Besides, there will be 100% reimbursement of stamp duty and registration fees paid on purchase of land.
Other incentives include financial support for skill training to local employees, additional investment support to SC/ ST/ women/ differently-abled entrepreneurs who are residents of Jharkhand, and quality certification, technology and patents.
