216 hectare industrial area to be developed in Dhar
Indore: The Madhya Pradesh Industrial Development Corporation (MPIDC) has announced plans to create a new industrial area at Lalbaug Basvi in Dhar district, aiming to attract investment from multiproduct industries.
The tender process for this significant project was completed, and development will commence on a sprawling 216 hectare, with an estimated investment of Rs 200 crore.
Two major tyre companies have already expressed interest in establishing manufacturing units within this upcoming industrial zone, each requesting 200 acre of land to facilitate their operations. MPIDC executive director Himanshu Prajapati said, "Our goal is to create a modern industrial ecosystem in Lalbaug Basvi that not only brings in investment but also generates significant employment opportunities for the local population.
We are committed to completing the development within this financial year."
This new industrial zone is part of MPIDC's broader strategy to bolster industrial development not just in Lalbaug Basvi but also in other areas such as Tarapur and Maharaj Khedi in Khargone district. Prajapati said, "We are adding to the land bank and identifying areas with the govt's vision of promoting entrepreneurship and job creation in Madhya Pradesh."
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"The establishment of this new industrial area is expected to create numerous job opportunities and position Indore as a key player in the state's economic development," said Prajapati. The corporation is also planning to start bookings and site visits for the under-construction IT Park-4 in Pardeshipura soon.
MPIDC initiated talks with local stakeholders, investors, and industries to engage with MPIDC as the corporation seeks to add new belts for diverse industrial activities, thereby fostering a sustainable economic environment.
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