In order to promote MSME growth, Odisha Industrial Infrastructure Development Corporation (Idco) will soon develop an MSME Park at Basantpur on the outskirts Sambalpur. The MSME park will be developed over an area of 50-acre land of 100-acre land and the rest will be utilised for the development of second industrial estate of Sambalpur. The park was bought by Idco for Rs 2 crore on January 2 last year for the development of a new industrial estate at Basantpur.
The Odisha govt and the central govt will collectively provide funds for the development of the park. As per official sources, a minimum of 350 MSME units would be served in the park.
Basantpur with this MSME park and three other major projects- including the permanent campus of Indian Institute of Management, Sambalpur (IIM-S), Sainik School and second campus of Gangadhar Meher University besides Group Centre of CRPF, is anticipated to become a major economic hub in the recent future.