A day after the state cabinet approved reduction inBihar Industrial Area Development Authority(BIADA) land lease rates up to 80%, state minister SyedShahnawaz Hussainon Wednesday saidBiharwill now offer abundant industrial land at affordable rates to interested investors.
He said after the transfer of 2,900 acres of land of closed sugar mills by the State Government to BIADA, Bihar has a huge land bank for setting up industries.
As per the state cabinet decision, out of the 54 industrial areas of BIADA, lease rates at 15 places have been reduced by 80%, at 12 places by 60%, in another 12 industrial areas by 40% and at the remaining 15 places by 20%.
Recently,Bihar Textile and Leather Policy, 2022 has been launched in the state and now the decision of BIADA land lease rates reduction in 54 out of the total 74 industrial areas will be a big help in achieving the goal of taking Bihar ahead in the Industrial Sector.