Bihar Government will acquire over 4500 acres of Land for setting up of Industrial Parks. Earlier the Government hinted that it would not volunteer for Land Acquisition for Industrial Parks, in its new Policy.
Seven new Industrial Parks are about to be set up in Nalanda, Bhagalpur, Buxar, Lakhisarai, Banka, Madhepura and Begusarai districts. The State would also use its spare unused lands for this purpose.
According to reports,  Industries Minister Renu Kushwaha said that the State is trying hard to help Investors willing to setup Ventures in the State.
When asked about the lack of Industrial Development in the state in past 7 years, she replied that in 2012-13, the Bihar Industrial Area Development Authority acquired 511 acres. Of this, 200 acres have been allocated to 336 units.
The Minister also assured that  the 350 Acre Mega Industrial Park’s construction would be finished by next year. The Bihta Industrial Park has some big names as occupants including Hero Cycles and Raymond.
It would be known as Logistic and Industrial Park (LIP) . As an integrated unit, LIP plan envisages establishment of a cluster of small-scale industries, marketing of agriculture produce, transportation of produce, establishment of cold chain and utilization of the freight corridor of the railways for the transportation and supply of perishable items for marketing in keeping with their demand in other states and metros.