Bihar integrated manufacturing city takes shape SPV formed to attract Rs 16k cr investment

Patna, Jan 8 (PTI) The Bihar government has formed a special purpose vehicle, Bihar Integrated Manufacturing City Gaya Ltd (BIMCGL), to spearhead the ambitious integrated manufacturing cluster project in Gaya, which is likely to attract Rs 16,000 crore of investment, the state government said on Wednesday.
     "Incorporated on January 6, 2025, this move marks a crucial step in clearing the deck for immediate construction and accelerating the project's timeline," an official press statement said.
     The project encompasses comprehensive infrastructure development, including a 29.89-kilometer internal road network, modern power substations, advanced water supply and sewage treatment systems, integrated waste management facilities, skill development centres, commercial spaces and administrative offices.
     "Strategic connectivity is a key focus. The cluster will benefit from its proximity to Gaya Junction, major National Highways and the upcoming New Paharpur Railway Station. This location offers excellent accessibility to crucial logistics points, including Haldia Port and inland terminals at Gaighat (Patna) and Ramnagar (Varanasi)," it said.
     Bihar Industrial Area Development Authority (BIADA) and National Industrial Corridor Development Programme (NICDC) on November 12, 2024 entered into a shareholders agreement (SHA), and the Department of Industries, Government of Bihar, signed a State Support Agreement (SSA).
     "The SPV features a shared governance model with a board of directors comprising equal representation from the state and central governments. This board comprises six directors -- three representing the state government and three from the central government," the statement said.
     The Managing Director of BIADA serves as the CEO & MD of BIMCGL.
     "Chief Minister Nitish Kumar has consistently prioritised industrial development as a key pillar of Bihar's growth strategy. His unwavering commitment to creating a conducive business environment, coupled with his focus on skill development and infrastructure development, has been instrumental in attracting investments to the state," it said.
     "Chief Secretary Amrit Lal Meena has played a pivotal role in streamlining administrative processes and ensuring the efficient implementation of government policies. His leadership has been crucial in facilitating the smooth progress of the IMC Gaya project, ensuring timely approvals and coordination between various government departments," it added.
     With land already under the state government's possession and all necessary approvals in place, the IMC project is well-positioned to accelerate Bihar's industrial growth and establish the state as a leading manufacturing hub in eastern India.
     "This is a momentous occasion for Bihar," said Bihar Industries Minister Nitish Mishra. "The formation of BIMCGL demonstrates the government's commitment to expeditiously realising the IMC's potential. By bringing together key stakeholders and streamlining processes, we are confident that construction will commence swiftly."
     Kundan Kumar, MD of BIADA, emphasised that this manufacturing cluster marks a crucial advancement towards the goal of establishing Bihar as a leading manufacturing hub.
     He highlighted the potential to generate substantial employment for the state's youth by effectively utilising Bihar's abundant resources and skilled workforce.
     The IMC Gaya project, which received approval in the Union Budget 2024-25 and subsequent Cabinet clearances, is projected to generate approximately 1,09,000 jobs and attract investments worth Rs 16,000 crore, providing a substantial boost to the state's economy, the statment added.

(This story has not been edited by THE WEEK and is auto-generated from PTI)