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Odisha seeks approval for SPV to implement NIMZ

Thu, 21st Jul 2016 (Source:Business Standard)

The Odisha government has sought the Centre's approval to implement the National Investment and Manufacturing Zone (NIMZ) through the existing special purpose vehicle (SPV) -- Jajpur Cluster Development Ltd (JCDL). The zone has been proposed at Kalinganagar, the steel hub in Jajpur district.

"The state government has requested the Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce and Industry to consider the existing JCDLto be the implementing SPV for NIMZ at Kalinganagar instead of going for a new SPV," said an official source.

 

JDCL is 51:49 joint venture between Kalinga Nagar Industries Association and state nodal agency for land acquisition-Odisha Industrial Infrastructure Development Corporation (Idco).

"We will strengthen the existing SPV which has been in place more than 10 years to implement the NIMZ project. NIMZ will be developed in three phases in 15 years with an investment of Rs 10,627 crore for internal and external infrastructure", he added.

Out of the total investment figure, Rs 4,241 crore will come from the Union government. The first phase of the project will be completed by 2020 with an initial investment of Rs 3,816 crore.

The NIMZ, spreading over 163 km, is expected to attract an investment of Rs 2.5 lakh crore and generate employment for 0.1 million people after the completion of the project. The manufacturing zone is expected to attract investment from varied sectors like metals and mines, automotive, steel and downstream industries.

It may be noted that the NIMZ would be a combination of production units, public utilities, logistics, environmental protection mechanism, residential areas and administrative services. 

Such zones would have a processing area, where the manufacturing facilities along with associated logistics and other services as well as required infrastructure will be located. The processing area may include one or more Special Economic Zones (SEZs), industrial parks, warehousing zones and export oriented units. Besides, there will be a non-processing area to include residential, commercial and other social and institutional infrastructure.

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