Project Promotion
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As an
Institutional entrepreneur, HSIIDC, in the pre
liberalisation period, was continuously engaged in undertaking
techno-economic studies about the scope of setting up various
industrial ventures to achieve rapid industrialisation in the
State and used to identify and conceive viable large and medium
scale projects, obtain Letter of Intent/DGTD Registrations/SIA
Registrations from Government of India where ever required and
promote them in Public, Joint and Assisted Sector in accordance
with the guidelines of the Govt. of India and the State Govt. in
association with private promoters. But after the liberalised
policy of licensing, HSIIDC has been promoting projects
in the Assisted Sector only by way of equity participation.
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While selecting the projects for
promotion, efforts are made to set up more and more units in
relatively industrially backward areas to bring about balanced
regional growth by proper dispersal of industries throughout the
State so that the benefits of planned economy are reaped in every
nook and corner of the State.
In the Public Sector, HSIIDC or
the State Government holds 51% to 100% of the equity share capital,
in the joint sector the investment of Corporation and co-promoters
is 26% and 25% respectively and remaining 49% comes from public
participation. In assisted sector the Corporation's investment is
limited to 15% of equity. HSIIDC associates in promotion of the
projects identified by private promoters in the assisted sector
under the Memorandum of Understanding Scheme. As a promotional
organisation, HSIIDC extends its full support to the
co-promoters in implementing the projects expeditiously with all
technical, managerial and financial skills available with it. The
Scheme envisages disinvestment of HSIIDC's shareholding after a
period of three years from the date of commercial production or five
years from the date of first disbursement, whichever is earlier or
as per the terms of Financial Collaboration Agreement. The
shareholding is bought back by the private promoters under the buy
back arrangement provided in the agreement & promoters executed
between HSIIDC.
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