Nagaland Govt signs MoA with Korean company

Kohima, Apr 04 (UNI) Nagaland Government has added a more value to the Centre's "Look East Policy" by signing a Memoranda of Agreement (MoA) with a South Korean company.

With an expection of boosting the industrial development to the state, the Government of Nagaland has signed two separate MoA by the Department of Industries and Commerce and the Nagaland Industrial Development Corporation Limited (NIDC) on Thursday with a South Korean company, the CONA International Limited of Anyang City, Gwanyang Dong, Seoul in South Korea, with an intention to make operational of the industrial growth.

An official bulletin here today stated that the Memoranda were signed by Nagaland Chief Secretary Lalhuma, the NIDC Managing Director Rose Jamir on behalf of the Government of Nagaland and the CONA International President Chang-Sun Moon in presence of Chief Minister Neiphiu Rio here.

According to the 5-point MoA, the State Government agreed in principle to rent or lease out unoccupied developed areas and allot vacant areas of the Industrial Growth Centre, Ganeshnagar, Dimapur, along with all infrastructure to the investors for setting up of the processing unites and polytechnic institute. It was agreed that the Government of Nagaland will extend all support to CONA in obtaining clearances as required by the individual units.

CONA also signed the MoA with NIDC for investment in the agro and food-processing sector to develop a Special Economic Zone (SEZ) for agro food processing at Ganeshnagar over an area of 50 hectares.

Later, a formal approval will be accorded by the Government of India for setting up of a Sector Specific SEZ. Both the parties also agreed in principle to make available all infrastructures.

It was agreed by both the parties to strictly follow the SEZ Act, 2005 and SEZ Rules, 2006 and all other Rules and Guidelines that may be framed there under, from time to time.

UNI AS LL/src1122