Farmers cooperative in Maharashtra will soon set up the state’s first industrial colony modeled after Maharashtra Industrial Development Corporation (MIDC), reports Press Trust of India.
The MIDC is a state government undertaking which provides businesses with infrastructure such as land (open plot or built-up spaces), roads, water supply, drainage facilities and street lights.
The ‘cooperative MIDC’ will invite private industries to set up their units.
Spread over 30 acres, the project has been registered with the industries department as ‘Swabhimani Audyogik Sahakari MIDC’ and owners of the land would be shareholders of the cooperative society, a source said.
The cooperative MIDC’s revenues will be shared with farmers based on their share of land.