NAGPUR: Things are finally looking up for Nagpur's industrial scenario after the much hyped Advantage Nagpur event; Lupin Pharma is starting trials run at Mihan and Facor Steel is restarting its unit at Hingna MIDC.
Facor Group, which is based in the city, had shut down its unit due to financial problems in January this year. After getting its loan restructured by banks, the unit resumed production on Friday. It employs around 500 workers initially, but will recruit more hands when the factory starts running at full capacity. The unit employed 650 workers before closing down.
Facor managing director Vinod Saraf told TOI that the company had gone in for corporate debt restructuring (CDR). "We have provided voluntary retirement schemes (VRS) to some workers as part of CDR. The company was ready to start the plant in April, but a lot of time was spent in completing various formalities," he said.
Good News ..!!
Industrial plots will be given at MIDC rates
NAGPUR: In a major relief to industries, state government has decided to provide them plots in MIDCs at the rates decided by the agency and not as per ready reckoner. The Butibori Manufacturers Association (BMA) had been pursuing this issue for years. The decision will be applicable across the state.
The decision was announced by Apoorva Chandra, principal secretary (industries), during a follow up meeting of Advantage Vidarbha held at divisional commissioner office on Friday evening. Another major decision taken by the government is that MIDC will now provide land to power companies MSEDCL and Mahatransco for setting up power infrastructure when it sells plots to industries. Many times industries have to wait for months for power supply after construction of their unit.
MIDC has also decided to set up a common effluent treatment plant (CETP) at Nandgaonpeth, which will remove a major hurdle.
Mahatransco MD Arvind Singh told the media that the state government had taken an in-principle decision to provide extra transfer of development rights (TDR) to farmers having land near municipal corporation limits if their land is acquired for setting up transmission towers. "Due to high cost of land, people are reluctant to give it to us. TDR will make the deal lucrative for them," he stressed.
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