Panaji: Goa Industrial Development Corporation (GIDC) has installed 31 industrial plots on Verna to be auctioned in an effort to remove debt taken in May 2019 to pay five sez promoters.
31 Plots are part of the 5 lakh sqm tranche that the National Informatics Center (NIC) is an e-auction on behalf of GIDC.
GIDC offers industrial plots, which range from 1,506 square meters to 45,000 square meters, on long-term leases with the initial period for 30 years.
The basic level for plots has been repaired at RS 5,000 per square meter and the plot will be allocated for the highest bidder through a two-step process.
“Rent can be extended for a period of 95 years, if this industry is fully regulated and operates in the first five years,” said a GIDC senior manager.
On December 30, 2019, the Industrial Department asked GIDC to auction 5 lakh SQM from Land Full of Reposses to pay a short-term loan RS 200 Crore taken in May 2019.
GIDC has a one-year moratorium on the payment of the principal, which ended in May 2020 and Since then GIDC has paid around Rs 4 Crore at EMIS to pay for the loan.
Of the 5 lakh sqm intended for e-auction, 4.42 lakh sqm is being auctioned with the remaining stored as an open space and for further development at the next stage.
Plot utility has been intended for sub-station settings by the Electricity Department.
GIDC failed in a previous effort to appoint a consultant to auction of land taken over from the Sez promoter so GIDC decided to adopt the e-Auction NIC platform.
“GIDC goes bankrupt.
There is an extraordinary number of outstanding RS 112 Crore.
GIDC does not have money to develop infrastructure in industrial estates.
The 7th Payment Commission has been implemented since September, but arrears wait,” said a GIDC official.
Allottee must start a commercial operation within a period of three years from the date of ownership and if Allottee failed to start construction after two years or failed to start the operation even after the period of four years GIDC would reclaim the industrial plot.
Pre-bidding meetings with potential bidders have been scheduled for September 29 and the last offer must be delivered on October 21.