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HSIIDC acquires 3,000 acres of land

CHANDIGARH: The Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) has successfully completed the acquisition of about 3,000 acres of land and another 3,000 acres is likely to be acquired by the end of the current fiscal year, Managing Director Rajeev Arora said on Wednesday.

Talking to mediapersons here, he disclosed that the major acquisitions during the financial year so far included 1,800 acres for IMT Rohtak, 300 acres for IMT Manakpur, 250 acres for Industrial Estate Karnal, 350 acres for Industrial Estates Rai and 107 acres for the Kundli Manesar Palwal Expressway.

The acquisitions till March 31,2010, would include 679 acres for Growth Centre Bawal, 651 acres for expansion of Industrial Estate Barhi, 159 acres for provision of utilities in IMT Manesar and 1,500 acres for a Greenfield Industrial Estate at Sohna.

He added that these acquisitions would involve a capital layout of about Rs.1,840 crore.

The Corporation was in the process of inviting applications for allotment of plots in the Industrial Estate, Kundli (Phase V) and the Industrial Estate/Agricultural Implements Park at Karnal.

He claimed that in spite of the adverse market conditions that had hit the overall business sector during the last two years, HSIIDC's performance had been improving as could be seen from the financial results.

Mr. Arora said that during the last financial year 2008-09, the Corporation had achieved its highest ever net profit at Rs.44.88 crore as against Rs.35.47 crore during the previous financial year 2007-08, which was also the highest even then.

Similarly, the turnover of the Corporation in the last financial year 2008-09 was Rs.146.82 crore as compared to Rs.106.35 crore during the previous financial year (2007-08).

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