Bhubaneswar, Nov 3: In a bid to expedite industrialisation process, Odisha government will set up a land bank and simplify the mode of payment Water Conservation Fund for industries.
The state government will hand over its land to the Industrial Infrastructure Development Corporation (IDCO), which will lease out land to industries for setting up projects in Odisha. The IDCO can also acquire private land for the purpose.
About one lakh acres of land would be reserved for industries in the land bank, sources said.
The land will be transferred to IDCO under provisions of the Odisha government Land Settlement Act, 1961. As per provisions made for the land bank, the required land has been divided into two types – Category A and B.
Specified mega projects, industrial clusters and parks will be provided Category-A land by the IDCO, while land under Category-B would be kept for future industries.
