The Rajasthan State Industrial Development and Investment Corporation (RIICO) has opened applications for the 12th phase of its direct allotment scheme to boost private investment and PPP-led industrial park development in Rajasthan. According to reports from Business Standard, the application window will remain open until July 28, with the scheme launched in January 2025 and set to remain in force until December 2026. A senior RIICO official confirmed that the scheme is attracting investments into the state and benefits are being extended to entrepreneurs who signed memorandums of understanding with the state government during the Rising Rajasthan Investment Summit held in December 2024.
In the 12th phase, RIICO is offering more than 5,000 industrial and logistics plots across over 100 industrial areas in the state. As reported by Business Standard, plots receiving a single application will be allotted directly, while those with multiple applicants will be allotted through an e-lottery to ensure transparency. The e-lottery will be held on July 31. RIICO Managing Director Suresh Kumar Ola stated that the scheme aims to create an industrial ecosystem in the state so businesses can be established and grow with the support of modern infrastructure, investment-friendly policies and transparent processes.
Under the policy framework, industrial parks have been classified into Category A and Category D. According to reports from Business Standard, Category A parks will be developed by private developers on land allotted by RIICO at identified locations, while Category D parks will be developed under a joint venture model within a PPP framework. RIICO will contribute land as equity to the project's special purpose vehicle or joint venture while retaining a minimum 26 per cent equity stake.
RIICO has demonstrated significant progress in previous phases, with 1,844 industrial plots allotted across the first 11 phases, as reported by Business Standard. These allotments have paved the way for investments exceeding ₹18,000 crore and generated employment opportunities for more than 37,000 youths in the state. The organization is currently allotting another 466 plots, with the potential to attract investments worth over ₹2,100 crore.
