GIDC puts on hold expansion of industrial estates

The Goa Industrial Development Corporation (GIDC) has decided to put on hold the plan of expanding industrial estates in the state, in the wake of recent amendments in the Centre's Land Acquisition Act, which have increased the compensation amount.

The GIDC has stalled the expansion of its oldest industrial estate at Verna in South Goa and Shiroda in north Goa due to "unaffordable" land acquisition prices.

"The new Central land acquisition act has increased the compensation to be paid for land acquisition and such high prices are unaffordable for the corporation," GIDC Managing Director Umeshchandra Joshi told reporters today after the 348th board meeting of the corporation.

He said the lands, which were notified before the amendment in the Land Acquisition Act came in force, would be acquired.

Talking about Verna industrial estate, he said, "The notification for 2.8 lakh square metres land acquisition at Verna industrial Estate has lapsed. We can't renotify it considering the high land prices in that area, which are to tune of Rs 15,000 per square metre." The IDC had planned expansion of its industrial estate at Verna due to increasing demand from the industrialists for the plot there, he said adding that currently the industrial estate is spread over 80 lakh square metres.

Similarly, at Shiroda Industrial Estate, which is 1.20 lakh square metre zone, the IDC has stalled its plan to acquire additional one lakh square metres area due to cost issues, Joshi said.

He said the land prices here have touched Rs 10,000 per square metre.

The board has decided to take up infrastructure development across all the industrial estates costing Rs four crore, which will augment the facilities and connectivity in these industrial zones.