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Wednesday, Jan 21, 2004

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Chamber to help investors set up units in Korba district

Ambar Singh Roy

Korba , Jan. 20

THE Korba Chamber of Commerce & Industries (KCCI) has volunteered to play the role of facilitator to prospective investors who would like to invest in Korba district of Chhattisgarh. The chamber will provide all assistance to investors with regard to completing administrative formalities, including obtaining the necessary permissions from statutory and civic authorities.

Mr Prem Madan, Secretary of KCCI, told Business Line that the mineral-rich belt of Korba was the most industrialised region in the State and offered great potential for coal-based, aluminium, ferro alloys and power projects.

Among the big names that already have operations in Korba are NTPC, Balco (Sterlite), Chhattisgarh State Electricity Board, Hindustan Thermal Power Project and IBP Co Ltd.

Mr Madan said Korba has huge deposits of quality coal and, hence, the region was apt for the setting up of coal washeries. Incentives towards this end were available from the Government as well as South Eastern Coalfields Ltd. Among the major mines in the region are Gevra, Kartali and Manikpur.

According to him, two local entrepreneurs have already set up ferro alloy units even as another Kanpur-based business house is currently studying the feasibility of a similar project in the region. Two sponge iron plants are slated to go on stream within the next two years. Feasibility studies in this regard have been completed.

"We solicit and invite investment from outside and assure prospective investors of all help with regard to facilitation, seeking of necessary permissions, etc," Mr Madan said. Growth of trade and industry in Korba has doubled in the last decade, he said, adding that a 100 per cent growth from the present levels would take far less time.

Mr Madan said the State Government too was playing its part in attracting investment. Leased land was available for industrial use at Rs 10 per sq. ft for 30 years. The downloading of Form 59 from the Internet for expediting processes has also been allowed.

The new Government in the State has vouched to facilitate the industrial development of Korba "at a very fast pace in the next five years", according to Mr Madan.

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