The Hindu Business Line : Maharashtra small industries corporation sets Rs 218.17-cr turnover target for 2008

Mumbai, Oct. 25 Maharashtra Small Scale Industries Development Corporation Ltd (MSSIDC) has set an ambitious turnover target of Rs 218.17 crore for the financial year 2008.

It is expecting an income of Rs 13.84 crore for financial year 2008.

Up to August 2007, the corporation has achieved a turnover of Rs 164.29 crore against Rs 121.25 crore logged at the same period last year.

The corporation in financial year 2008 is set to achieve a surplus of Rs 2.95 crore, which is unprecedented for the last nine years, said Mr Avinash Pande, Chairman, MSSIDC.

The corporation’s turnover in financial year 2007 increased 69 per cent to Rs 179.35 crore (Rs 123.82 crore) in 2006-07. MSSIDC has raised its budget for marketing activity by 64 per cent to Rs 166 crore in financial year 2008.

“In order to provide technical know-how and latest technology to the SSI units, we have planned to establish common facilities centres at various location, under the Central government sponsored scheme of Small Industries Cluster Development Programme. We have made a provision of Rs 25 lakh in financial year 2008 budget for sharing the cost of CFC,” Mr Pande said.

The supply of raw material such as iron, steel and coal to SSI through MSSIDC was up 11.49 per cent in financial year 2007 to Rs 26.19 crore against Rs 24.14 crore achieved last year. “We have started supplying coal to SSI from June 2006 and have received encouraging response. The target for financial year for Rs 47 crore,” he said.

In order to increase the turnover of commercial warehousing activity, MSSIDC proposed to renovate godowns at various centres and redevelop un-utilised properties to benefit SSIs.

The corporation is planning to set up a production-cum-training centre at Paithani in Aurangabad for which the Maharashtra Government has sanctioned Rs 5 crore. MSSIDC has made a provision of Rs 1.74 crore in 2007-08 for renovation of the Emporia in Mumbai and New Delhi.