State eyes ₹500 crore investment in Electronic Manufacturing Cluster

The Jharkhand government is all set to inaugurate and give eastern India its first and biggest Electronic Manufacturing Cluster (EMC) in Adityapur Industrial Area (AIA) across Jamshedpur.

This became imminent in the wake of plot allotment to 23 companies and the prospect of their starting operations soon, officials said on Saturday.

State industry secretary Pooja Singhal formally allotted the plots here at EMC a couple of days ago following chief minister (CM) Hemant Soren’s direction to regularly monitor the project progress and ensure ease for interested investors. The CM had inaugurated the EMC infrastructure on December 29 last, hoping for it to emerge as the biggest gateway for investments in the eastern region.

“So far, 23 units have been allotted land in EMC to start their own units and the process of providing land to four units is underway. The factory is being built by 23 entrepreneurs. If all the entrepreneurs in the EMC establish their units, about 20,000 direct and 25,000 indirect jobs will be created and investment of about ₹500 crore will be ensured in Jharkhand,” Prem Ranjan, regional deputy director of JIADA, said.

The EMC has been built with an investment of ₹186 crore, of which the Government of India gave ₹41.48 crore, the state government ₹60 crore and JIADA invested about ₹50 crore.

As per JIADA authorities, land price at EMC is quoted at ₹90 lakh/acre.

However, in order to facilitate investment and create employment opportunities, land blocks are being allotted at a subsidy of 50%. Apart from this, flatted factory units can be rented at a rate of ₹15/square feet.