the goan I network
PANAJI
The Investment Promotion Board (IPB) has given its approval for five expansion projects, but has deferred ten proposals for new projects in its board meeting.
Reliable sources informed that these five approved expansion projects will bring Rs 168.7 crore of investment and will create 209 jobs.
This is the first time that IPB, which is under the chairmanship of Chief Minister Manohar Parrikar, has cleared investment projects ever since the new State government was formed in March this year.
The biggest expansion project to get approval belonged to Birla Furukawa Fibre Optics, which will increase its optical fibre manufacturing capacity from 8 million kms/year to 12.5 million kms/year. This project will bring Rs 92.4 crore of investment and create 18 jobs.
Close on its heels was Finolex Cables, which was given nod to increase its capacity for electrical conduits and fittings at Verna Industrial Estate. This project will bring Rs 35.2 crore of investment and create 55 jobs.
Dura-Line India also managed to get approval for its expansion project for manufacture of polymer compounds at Sancoale Industrial Estate, which will create 100 jobs and bring in Rs 33.5 crore investment.
Other projects to get IPB's go-ahead were Glenmark Pharmaceuticals (expansion of capacity for manufacture of ointment) and Titan Timeproducts (expansion of power load and construction
of building in existing
premises).
The construction of building at Titan Timeproducts facility will increase welfare space like dining hall provided to employees and will de-congest existing production shop-floor.
Glenmark Pharmaceuticals will create 16 jobs and will bring in Rs 2 crore of investment and Titan Timeproducts will create 20 jobs and will bring Rs 5.7 crore of investment.
The IPB deferred 10 investment proposals, which include Kakode Trading, MVR Automobiles, Mepra Medicaments, Atlantis Pharmaceuticals, Pearl Engineering, Eminent Amines, Rising Containers, Fortitude Global Green Ventures, Ambey Metallic and Gemini Distilleries.
Projects deferred
Kakode Trading (new manufacturing unit)
MVR Automobiles (new workshop)
Mepra Medicaments proposal (new pharma unit)
Atlantis Pharmaceuticals (new unit)
Pearl Engineering proposal (new unit)
Eminent Amines (new monosodium glutamate unit)
Rising Containers (plastic containers)
Fortitude Global Green Ventures (fly ash bricks)
Ambey Mettalic (manufacturing unit)
Gemini Distilleries (expansion)
Proposal to reduce open space in industrial estates likely
PANAJI: In a bid to provide more space to industries in industrial estates, the government is considering a proposal to reduce open space from the current 15% to 10%.
A source informed that reduction in open space will happen in all probability, but the final decision is subject to the approval of a steering committee, which is chaired by Chief Minister Manohar Parrikar.
Several sections of industries have earlier requested the state government to reduce the open space in industries because there is lack of industrial space in Goa. This problem takes different proportions when we consider that 35.56 lakh square meters of land is stuck due to special economic zone (SEZ) related litigation in Goa.
Due to this, it becomes difficult for Goa Industrial Development Corporation (GIDC) to allot plots to deserving industries. Sources also revealed that plans are afoot to allow more coverage to industries and permit higher floor area ratio (FAR) to them.
These two moves will also provide more space to industries in industrial estates. The steering committee will decide soon about allowing more coverage and higher FAR as well. Higher FAR will depend upon the nature of industry.
In case of information technology (IT) and knowledge sectors, where heavy machinery is not required, the state may allow much higher FAR than now. This is because such set-ups can easily add floors to their existing premises.
