HPSIDC earns Rs 14.54 crore profit

Shimla, Nov 28 (UNI) The Himachal Pradesh State Industrial Development Corporation (HPSIDC) has earned a record profit of Rs 14.54 crore during the last financial year, Industries Minister Kuldeep Kumar today said.

Presiding over a meeting of the Board of Directors of the Corporation here, he said it had made remarkable improvement in its functioning during the last three years.

The board also approved the Memorandum of Understanding (MOU) signed between the corporation and Gail for fulfilling the energy requirements of the industrial and other sectors of the state.

It also approved the setting up of plastic parks and conservation of environment, pollution control and e-governance in the state.

Speaking on the occasion, Board's Managing Director Anil Khachi said following the extension of the industrial package till March 31, 2010, there has been a spurt for plots in the industrial area of the state.

The HPSIDC has also embarked upon a time bound plan of developing industrial areas in different parts of the state for which the process of identification and acquisition of land was at an advanced stage, he said.

Mr Khachi said price negotiations for acquiring 430 bighas of private land near Baddi in Solan district had already been concluded.

The Board also approved Rs 4.4 crore total term loan component for two industrial units, being set up at Kala Amb and Nalagarh respectively, for manufacturing of PET bottles and pharmaceutical formulations.

It also announced five per cent ADA to all its regular and work charged employees from July this year following the state government's footsteps.

UNI AS HS BK SRS RN2003