Patna: Bihar will soon get its first Special Economic Zone (SEZ) boosting its industrial growth. According to reports, the state government has completed the land identifying process for the first two SEZs which will come up in Buxar’s Navanagar and West Champaran’s Kumar Bagh.
The new SEZs will come up in around 125 acres each and will involve a cumulative cost of Rs 225 crores.
According to details, the SEZ at Kumarbagh will come up at a cost of Rs 116 crores while the Navanagar SEZ will be developed at an approx. cost of 109 crores. The Union Government recently accorded nod to the establishment of these SEZs which will equipped with world class facilities and modern technology.
The state’s Industries Department has planned to provide all required facilities to the entrepreneurs at the special zones which are expected to generate thousands of employment opportunities to locals.
Sharing the details, state’s Minister for Industries Dilip Jaiswal said that the department is working on a detailed work plan and new SEZs in future will also come up on the basis of these two SEZs.
The minister added that the government is working on providing jobs and employment opportunities for one crore people and industry will be a big medium for this.
“We are committed to provide support to investors in Bihar. A new work plan for development through SEZ is being prepared. We are working sincerely on the plan of providing one crore jobs and employment opportunities. Industry will be a big medium for this,” said Jaiswal.
The Minister stated that the state is moving towards industrialization at a rapid pace and the new Bihar Industrial Investment Promotion Package is going to be a game changer. He stressed that this is a decisive turn for the state’s economy.
Industries operating from the new economic zones will be given exemption in taxes along tax-free imports for operations and maintenance.
According to the department, the SEZs will have around a dozen units which will generate over ten thousand employment opportunities. The SEZ at Navanagar is close to Varanasi and Bihta airports while the Champaran’s SEZ is closer to the Uttar Pradesh and Nepal borders.
