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State Industrial Development Corporation of Uttaranchal - SIDCUL

SIDCUL FAQ's

What is SIDCUL?

SIDCUL LogoSIDCUL, a Government of Uttaranchal Enterprise, was incorporated as a Limited Company in the year 2002 with an authorised share capital of Rs. 50 Crores and Rs. 20 Crores paid up capital through Government of Uttaranchal in order to promote Industrial development in the State, provide financial assistance in the shape of debt, equity, venture capital, develop infrastructure and assist private initiative in Industry and Infrastructure and implement, manage projects and provide specialized financial, consultancy and construction and all such other activities to promote industries and develop Industrial Infrastructure in the State of Uttaranchal directly or through Special Purpose Vehicles, Joint Ventures, assisted companies etc.

Besides the State Government, SIDCUL has equity participation from LIC, ICICI and SIDBI. Other banks are also in the process of participating in its equity. This has led to a high degree of professionalism and autonomy in the functioning of the Corporation. The spate of concessions available for Industrial ventures in Uttaranchal along with the proactive govt. and facilitative environment has lead to more than a thousand EOI’s with SIDCUL, which entail an investment of around Rs. 5000 Crores plus and a land requirement of around 3500 Acres.

2. When was SIDCUL established?

18 July 2002

3. What is the total strength/personnel of SIDCUL today?

21 officers (regular) and same number of contracted/ outsourced staff.

Sharda Motors, IIE haridwar
Sharda Motors already in action.
IIE Haridwar. More »

4. What is the total area offered in Haridwar, Pantnagar and Sitarganj?

Haridwar 2000 acres
Pantnagar : 3339 acres
Sitarganj : 1174 acres

Total industrial area developed since independence till 2001: 2500 acres
Developed by SIDCUL: 8000 acres.

Industrial growth rate 1993-94 to 2000-01 : 1.8%
Last three years : 19%

5. what are the plans for other areas like Kotdwara, Bhimtal and others?

Kotdwar is under progress , 25 % marketed, slated for inaugutration by q3, 2006

6. What is the progress with Tata project and when do you think it will come up for development?

Tata has started construction, operations by March 07

IIE Haridwar
HLL in operation, IIE Haridwar. More »

7. The allottees Industrial plots in Haridwar have complaints against SIDCUL issuing warning and forefeiting deposits if they do not raise the structure and start activities they have been sanctioned the land for. What is SIDCUL's policy and what grace period or legal action are you contemplating against such investors?

I am ready to live with criticism rather than tolerating speculators. We have cancelled around 70 plots so far. We also have a policy for surrender; for details see website www.sidcul.com. My assessment is that we shall see 80-90% fructification of proposals by 2007 as opposed to 30-40% in comparable industrial estates.

8. What are the major issues the invstors are facing in building up the Industrial Estates in UA?

What are the challenges for SIDCUL once the industrial process gets over and measure taken by you to handle environment and industrial relations?

We have very good industrial relations here- shortage of requisite skill sets is something we are hoping to address through a knowledge city in Kashipur.

9 . What are your plans for mountain industries?

Does SIDCUL cover the village and small industries or is there any other agency in the state for the industrial developments in the hills?

Processing of horticulture produce; cool chain infrastructure; tourism is another.

10. What is the total investment that the State has already been committed?
19964 crores; 2032 units

11. What employment has been created by the Hardwar, Pantnagar and Sitarganj Esates for the State? Does it mean the local lads are competitive and capable of getting jobs in the Global investors in the State?

Total Direct : 1,00,000. Indirect 3 times.

For more information on SIDCUL, please visit SIDCUL Official Website- www.sidcul.com

Source: Data as provided by Mr. Alok Kumar, MD, SIDCUL to Mr. Chandan Dangi

 

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