About the company

About the Company:

Manipur Industrial Development Corporation Limited (MANIDCO) formerly Manipur Small Industries Corporation Limited (MSIC) was incorporated in the year, 1969 under the Companies Act.1956 (No. 1 of 1956). The present authorized Share Capital of the Company is Rs. 16.00 crore. IDBI.s Share is Rs. 4.21 crore. The Corporation is multi -functional company which acts as (i) State Financial Corporation (SFC), (ii) State Industrial Development Corporation (SIDC) and (iii) State Infrastructure Development Corporation. It is the only financial institute of the State. The Company has to cater long term credit requirement o f industry. MANIDCO is governed by a Board of Directors. All the members of the Board are representatives o f the State Government and the Industrial Development Bank o f India (IDBI)/ Small Industries Development Bank o f India (SIDBI). It is worthwhile to mention that there was hardly fund available in the Corporation for industrial activities till the middle of 1980. In order to clear the backlog in industrialization, the State Government took initiative to revive the activities of MANIDCO with a very low budgetary support till 1985-86. Industrial Development Bank of India (IDBI) also extended active support in this regard. The main activities of the Corporation are: –

 

  1. State Financial Corporation (SFC).

 

As a State Financial Corporation, MANIDCO started its Term Loa n Lending Activities from the year, 1986-87 upto 1992-93, providing of financial assistance to Tiny & Cottage, Small Scale Industries, Hotel Industries & Transport Industries etc. in the State of Manipur under the Refinance Scheme of Industrial development Bank o f India (IDBI) and Small Industries Development Bank of India (SIDBI). With the support of IDBI/SIDBI, MANIDCO had extended term loan of Rs.1595.00 lakhs to 1487 industrial units in different categories in the State of Manipur thereby generating employment opportunities for about 20,000 persons directly and indirectly. MANIDCO has been planning to resume its Refinance Scheme from the year, 2010. The Corporation would like to place on record its gratitude for the support extended by IDBI for the development of the Corporation.

 

  1. State Industrial Development Corporation (SIDC).

 

As a State Industrial Development Corporation, MANIDCO has participated in a few subsidiary/joint sector projects (industrial units) in the state of Manipur.

 

Raw-Materials Trading Business.

 

Further, the Corporation procures and provides scarce raw materials to the small scale industrial units and also assists in marketing their products. It also procures construction materials like, steel, cement, CGI sheets etc. for the various construction works taken up by its Engineering Cell. MANIDCO has been planning to start export/import trading business activities in food products and technology transfer with the counterpart i.e. Myanmar & Vietnam under the Government of India.

 

  1. State Industrial Infrastructure Development Corporation (SIIDC)/ Engineering Cell

 

As State Industrial Infrastructure Development Cell, MANIDCO has been undertaking Construction & Design services for various civil construction works in the state of Manipur. Some of the works are funded externally/centrally a and some are State sponsored projects. The present Projects/works taken up by the Engineering Cell are as under:-

 

  1. Externally funded:

Manipur Sericulture Project, Sanghaipat, Wangbal & Khurkhul.

 

  1. Centrally funded:

ASIDE Projects of DoC, Moreh, 100 bedded Hospital at Ukhrul of DoNER, Industrial Estates under NEC & MSME and Sport Infrastructures at Takyelpat under SAI.

 

  1. State funded:

Dept. of Tourism, Dept. of Fisheries, Dept. of Com. & Industries, Dept. Of Health & Services, Dept. of Sericulture , Government of Manipur.

 

The Engineering Cell has been functioning with great reputation. Credibility and accountability in implementation of the projects are the main attractive criteria of the Corporation. Multi-Crore Projects like Industrial Growth Centre, Imphal East, Integrated Check Post, Moreh are likely to be implemented through the Infrastructure Cell, MANIDCO. Some of the works of Manipur Sericulture Project has been completed satisfactorily and handed over to the concerned Department and some are nearing completion. MANIDCO has been nominated by the Govt. of India as an Implementing Agency for the above works.