Haryana government has decided to adopt Swiss Challenge method for auctioning 3,000 acres of land for a USD 10 billion industrial park proposed by the Chinese Wanda group.
“The Chinese company is expected to submit the Detailed Project Report very soon. We will go for Swiss Challenge model for auction of the 3,000 acres land proposed for the industrial park that will attract an investment of USD 10 billion,” Haryana Principal Industry Secretary Devender Singh told PTI.
Swiss Challenge method is a new process of giving contracts. Any person with credentials can submit a development proposal to the government. That proposal will be made online and a second person can give suggestions to improve it and beat that proposal.
The park is likely to come up near Kharkhoda along the Kundli-Manesar-Palwal (KMP) expressway where 3,000 acres is currently available with the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC).
Under the plan, the Wanda group, one of China’s biggest real estate developers, will develop an industrial park as well as an entertainment theme park, officials said,
The company would also bring in Chinese investors in tourism and real estate to develop the park.
Singh said that the industrial park will not stay exclusive to companies of any particular country.
Haryana government was also contemplating to bring some modifications in the new Land Acquisition Act aiming at smooth land acquisition process without compromising on compensation, he added.