The bidding process for the development of two logistics hubs in Uttarakhand, which had hit the roadblock last year, has been amended with the government deciding to go for profit sharing formula and lowering the land premium considerably.
With the development of key industrials estates of Haridwar and Pantnagar, the State Infrastructure and Industrial Development Corporation of Uttarakhand Limited (Sidcul) had chalked out plans to provide logistic support and comforts to the industries through these two proposed hubs. For this purpose, about 10 bids were received by Sidcul.
However, the Sidcul board, comprising top government officials, expressed reservations over certain clauses due to which the bidding process did not make any headway. Some of these companies wanted to make upfront charges in a staggered manner by adopting annuity model. However, this was not accepted by the board.
Besides, all the 10 bidders, who were selected through technical bidding process, also wanted some concessions because they found the land premium to be quite high. “We have adopted the middle path to suit both the government as well as the developers,” said a government official.
Under the new formula, the bidders will be offered land at a reserve price aroundRs 1200 per sq metre at the integrated industrial estates (IIEs) of Haridwar and Pantnagar against the current land premium of Rs 3,800 and Rs 4,500 per sq metre. Besides, the government has also decided to take two per cent of the total profit earned. In addition to this, a land rent of Rs 5 per sq metre will also be charged.
“We have now invited financial bids to complete the process. Some of the parties are also seeking more time. We hope to complete entire process shortly,” the official added.
Sidcul, the nodal agency for industrial development in the hill state, had decided to set up two modern logistic/transport hubs having facilities like warehouse, truck parking, dormitories and 24 hour canteen/restaurant, fuel station, service centres, office complexes for service providers and hotels. An investment of Rs 50 crore is proposed in the two logistic hubs.
But the demand from industries was growing for logistic hubs mainly for the comfort of businessmen and industrialists visiting the two places.
Sidcul has also mandated IL&FS Ltd to undertake comprehensive process, management leading to appointment of developers who will implement the projects on the Public Private Partnership model.
Source: Business-standard.com
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