In a concerted effort to stimulate investments and foster industrial expansion, the state government of Bihar has unveiled a groundbreaking initiative aimed at providing rental industrial sheds to potential investors. Under this innovative “plug and play” scheme, the government has established fully equipped industrial sheds encompassing a vast expanse of 24 lakh square feet, effectively obviating the need for investors to procure land for their entrepreneurial ventures.
Sandeep Poundrik, the additional principal secretary for the Industry of Bihar, shared details of this ambitious project during an investor meet in the national capital, stating, “… We have created about 24 lakh square feet of industrial sheds, which we are offering as a plug and play solution. This means that investors can arrive with their machinery and commence operations without the necessity of procuring land or constructing buildings. This initiative is specifically designed for high-priority sectors such as textile, leather, IT, and food processing, and it has garnered a favorable response.”
This visionary program now affords investors the opportunity to lease industrial sheds at a monthly rate ranging from Rs 4 to Rs 8 per square foot, facilitating a streamlined approach to establishing machinery and launching production processes. The state is particularly keen on attracting investments in sectors encompassing manufacturing, food processing, and textiles.
In response to queries about the investment commitments secured by the state during road shows, Poundrik conveyed, “We have received a positive response from numerous investors who have expressed their interest. Many have also visited Bihar to explore opportunities related to infrastructure and land. We have garnered commitments from several companies, and these agreements will be formalized during the December summit when they sign Memorandums of Understanding and formally commit to their investments in writing.”
The Bihar government is organizing the “Bihar Business Connect” global investment summit in Patna, the state’s capital, scheduled for December 13 and 14.
Poundrik also emphasized that Bihar’s GDP is growing at a pace exceeding the national average, and the purchasing power of the populace is on an upward trajectory. Furthermore, he disclosed that five Public Sector Undertakings (PSUs) have sanctioned 17 units within the state, with 14 of these plants in the process of being established, representing an average investment of 200 crores each.
He stated, “This influx of approximately Rs 3000 crore into our ethanol sector represents a significant stride toward Bihar’s aspiration to become India’s ethanol hub.” Additionally, he revealed plans for Vedanta to establish a 50 MW solar power plant, with intentions to construct two more solar plants in the near future.
