Furniture Cluster Eyes Investment From Anchor Units, Real Estate News, ET RealEstate

August 27, 2023

INDORE: The Special Purpose Vehicle (SPV) formed for furniture cluster in Indore district is eyeing investment from anchor units to source end products manufactured at the cluster by the small and medium enterprises.

As many as 42 small and medium industries will get plots in the proposed furniture cluster in the first phase, according to the SPV.

Micro, small & medium enterprises (MSME) department has allotted 55 acres for developing a cluster for furniture at Betma Khurd, about 27 km away from Indore.

Association of Furniture Manufacturers and Trades, Indore, secretary and SPV member Harish Nagar said, “We are working on building a platform for small players by getting investment from anchor units. This will give small players a platform to commercialize their products and work for a brand.”

The SPV is finalizing the development plan for furniture cluster on 55 acres in the first phase.

As per the plan, plots measuring 10,000-50,000 square feet will be allotted to industries as per their requirement.

“Plots will be allotted to industries as per their demand. There will be 3-4 categories of plots in the cluster. Most industries coming up in the first phase are small players and require small land. Big land chunks will be allotted to industries in the second phase,” said Nagar.

According to the SPV, a small common facility centre with advanced machinery is included in the new development plan where industries can take up turns to use the machine for job work.

The association said that around 110 industrialists had submitted money to the SPV for taking up land of which more than half took back the payment due to delay in the land allotment.

  • Published On Jul 27, 2023 at 04:00 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link

Abhay Singh

Web Developer

Leave a Comment