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NEDFi to open branch in Nagaland

Our Bureau

GUWAHATI, Dec. 11

A BUSINESS Meet held for the first time in Dimapur, Nagaland, jointly by North Eastern Development Finance Corporation Ltd (NEDFi) and the Nagaland Industrial Development Corporation (NIDC), evoked response from more than 155 entrepreneur-participants of the State.

They discussed in detail their project proposals with the NEDFi officials, led by its Managing Director, Mr M.K. Sarma. The proposals discussed were in the fields of healthcare, tea plantation, livestock, tourism, horticulture and cold storage.

Mr Sarma, in his inaugural address, announced that NEDFi would soon be opening a branch office in Nagaland to provide its services at the doorsteps to the entrepreneurs in the State. He said that NEDFi was willing to assist entrepreneurs, businessmen and professionals of Nagaland in establishing viable industrial and infrastructure projects and expansion, diversification and modernization of existing industrial enterprises.

NEDFi normally finances projects with loan components of Rs 25 lakh and above, but he said smaller projects in innovative fields and in the hill States of the northeast would be specially considered. Mr Sarma stated that NEDFi had so far funded 29 projec ts in Nagaland in various fields such as agriculture, livestock and other organic projects. Another 25 projects were likely to come in shortly. He reminded that steel re-rolling and cement plants in Nagaland would not only substitute imports from outsid e the region but would also help eradicate educated unemployment.

Mr Sanajay Kumar, Managing Director, NIDC, in his welcome address, said that Nagaland was endowed with vast natural and mineral resources but to exploit the resources there should be adequate, appropriate and unflinching institutional support. He express ed his happiness that NEDFi was making its presence felt in the State and was trying to build a long term relationship as a partner and a support base for economic growth and development of Nagaland. He requested the local entrepreneurs to take advantage of the NEDFi's services.