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2011-08-01

Siggadi growth centre meets roadblock

Siggadi growth centre meets roadblock due to faulty policy

Siggadi growth centre meets roadblock

The Sigaddi growth centre, being developed by the government-owned State Infrastructure and Industrial Development Corporation of Uttarakhand Limited (Sidcul), has met with a snag due to the steep hike in the prices of industrial plots. The move has been criticised by the Comptroller and Auditor General (CAG) of India.

 

The price of an industrial plot at Sigaddi, set at Rs 3,500 per sq meter by Sidcul – the nodal agency for industrial development – two years ago, is considered very high, due to which industry has not shown any interest.

 

In its last meeting, the Sidcul board had called for floating Expressions of Interests (EOIs) in order to ascertain the real value of industrial plots at the Sigaddi growth centre in the Kotdwar area of Pauri district, so that land prices can be brought down to match market expectations. But it was found that Sidcul is yet to float such EOIs.

 

The scheme to set up the growth centre was introduced by the government to encourage industrialisation in backward areas.

The audit observed that the slow rate of allotment was mainly due to the “faulty” policy of bidding by Sidcul from the year 2007-08, which stipulates that the industrial plots will be allotted only to the highest bidder and to those bidders who quote a rate that is within 30 per cent of the highest bid.

 

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