Rajasthan readies Private Land Pooling plan to woo renewable energy investors
Rajasthan will undertake land reforms to improve its availability for green field manufacturing units, state Principal Secretary (Industries), Ajitabh Sharma told ET.
Sharma said the state had received fresh proposals for renewable energy equipment and petrochemical manufacturing and investment commitments of over Rs 5.2 lakh crore ahead of the Rising Rajasthan Investment Summit.
“We are coming out with policies for supporting the development of private industrial parks,” he said, adding that the state is now readying a Private Land Aggregation bill.
According to Sharma, the bill will allow wilful landowners to become ‘partners in industrial growth and development.’
Under the plan being readied, groups of landowners part with a portion of their pooled land which will then be developed by the Rajasthan State Industrial Development and Investment Corporation (RIICO).
“The original owners may hold just 25-35% of the land but its valuation will increase multi fold after being developed by RIICO,” he said.
Investment by RIICO Is expected to address the infrastructure availability issues in far-flung areas of Rajasthan. The private land pooling will offer better deals for investors that are facing a crunch in areas near the National Capital Region (NCR) of the state.
On the investment proposals before the state government, Sharma said commitments of Rs 5.2 lakh crore had been received.
“These are spread across
