About MIDC Meghalaya (Meghalaya Industrial Development Corporation)
MIDC Meghalaya (Meghalaya Industrial Development Corporation) was incorporated on 06 April 1971. It is classified as State Government Company and is registered at Registrar of Companies, Shillong. Its authorized share capital is Rs. 1,000,000,000 and its paid up capital is Rs. 910,941,310. It is involved in Administration of the State and the economic and social policy of the community.
Meghalaya though itself one of the young and the small State in the country has a long international boundary of 443 kilometers with Bangladesh which sets a unique advantage of setting up of industries based on demand in the country. All units will have an advantage on account of low cost of product transportation. To obviate the problem of prospective entrepreneurs in acquiring site for industries, Industrial estates and Areas have been created with many more to come up in near future.
Objectives of MIDC Meghalaya (Meghalaya Industrial Development Corporation)
- Carrying out integrated planning and physical development of declared urban areas.
- Formulating and submitting development plans, including capital investment plans.
- Undertaking the execution of development projects and schemes.
- Formulating and implementing urban land use policy.
- Developing environmental standards and preparing schemes for the environmental improvement of urban areas.
- Providing technical planning services.
- Preparation and implementation of regional Plans, Master plans, New township Plans and Town Improvement Schemes.
- Promoting research and development of new techniques in City planning, Urban Development and Housing Construction.
- To promote and secure better planning and development of the state.
In order to achieve its objectives, MIDC Meghalaya operational frame work and area of focus revolves around:
- Creating affordable housing using environment-friendly building materials and cost-effective building technologies.
- Creating self-contained and self-sustaining residential complexes in the shape of Urban Estate/Integrated Townships.
- Undertaking projects which focus on promoting urban development, developing commercial complexes, creating state-of-the art infrastructure.
- Optimum utilization of vacant government lands to generate additional resources for the State government for financing city redevelopment, regeneration and other infrastructural development.
- Create ethos of conversation to enhance overall development in the state.