Aircraft unit misses take-off nod

Patna. Feb. 23: The State Investment Promotion Board (SIPB), which held its meeting today after a gap of almost five months, cleared all 116 proposals, except about half-a-dozen that have been put on hold.
Among the proposals that were set aside for the time being included one that talked about setting up of an aircraft manufacturing unit in the state.
Beltronics Techno Pvt Ltd, Patna, had come up with an investment proposal to set up a manufacturing unit of aeroplane and air taxi, besides carrying out maintenance work of aircraft in the vicinity of the state capital.
The company, which claimed that it has already entered into a tie-up with a UK-based firm for financing the project, said it would pump in Rs 92,000 crore for the purpose.
“We have asked them (the company) to give a presentation before the board. We want to see their project details. We would like to know what it wants to do and how it plans to go about? We also want to know what are the land and other requirements of the entrepreneur?” principal secretary (industries) C.K. Mishra told The Telegraph.
SIPB was set up by the Nitish Kumar-led NDA government after assuming power in November 2005 with an aim to promote private investment in the state.
The board has, so far, approved 603 project proposals, which entail an investment of Rs 2.48 lakh crore with a capacity to generate 1.85 lakh jobs.
Sources said if the aircraft manufacturing unit gets the board’s approval, the chances of which are very bleak, it would bring Rs 92,000 crore in investment alone to the state.
In the wake of entrepreneurs, especially Aditya Birla Group chairman Kumar Mangalam Birla who made a fervent appeal to the government at the just concluded “Global Bihar Summit” for speedy approval of the project, the SIPB decided to hold regular meetings in order to avoid delay in giving approvals to proposals.
Bihar Industries Association (BIA) president KPS Keshri, who is also a member of the SIPB, told The Telegraph: “SIPB meeting would now be held twice a month. The aim is to ensure that the proposed projects do not get delayed in getting the board’s approval.”
He added, “It was also decided that those entrepreneurs, who could not apply to the SIPB, would be given a chance to apply to the board.”
According to the industrial incentive policy of 2011, projects having SIPB’s approval would get incentives.
Since there was no fixed time-frame for holding the meeting of the board for approving the investment projects, it led to accumulation of a long list (116) of investment proposals requiring the board’s approval.
The last time a meeting of the board was held was in the last week of September last year
Any fresh investment proposal, once cleared by the SIPB, of up to Rs 100 crore investment would be put up before chief minister Nitsih Kumar for his approval, whereas proposals of over Rs 100 crore would be sent to the cabinet for the necessary approval.
The proposals, which got the board’s approval included investments from sectors like food processing, power, cold storage, flour mills, rice mills, beer factories and others.
http://tourism9.com/    http://vkins.com/