The Government-backed State Infrastructure and Development Corporation of Uttarakhand Ltd (SIDCUL) is set to invest Rs 400 crore in the development of infrastructure facilities in Sitarganj. This initiative by SIDCUL is aimed at aiding the state government in its development efforts, similar to previous advancements seen in Pantnagar and Haridwar.
An official has stated that construction work at Sitarganj is poised to begin shortly, and it is expected to serve as a major attraction for entrepreneurs looking to establish new units in the region.
According to Baguali, the additional secretary of the state, the project will encompass all necessary infrastructure elements including roads, streetlights, and other vital components of the Sitarganj estate.
Earlier in April, the state government initiated the process of allocating industrial plots at SIDCUL-II under a significant industrial policy emphasizing an investment worth Rs 75 crore. Incentives provided by the government include a 50% rebate on stamp fees and a 1% concession in CST. To date, major corporations such as DS Group, CHD Developers, and Ural India Group are vying for around 500-550 acres of land, signaling an investment potential of Rs 1,400 crore in the area.
Nevertheless, SIDCUL is faced with substantial concerns regarding the industrial landscape in the country, which has been adversely affected by persistent rupee depreciation driving corporate houses away from making significant investments.
In response to the need for improved infrastructure across the state, the board has contracted the expertise of three consultancy firms: Engineers Project India Ltd, National Buildings Construction Corporation Ltd, and Uttar Pradesh Rajkiya Nirman Nigam Ltd.
With Chief Minister Vijay Bahuguna concentrating efforts on recovery and rehabilitation following recent disasters in the state, the potential for industrialization has suffered considerable setbacks.