To attract foreign investments post-coronavirus, Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) said a new policy was on the anvil for allotment of industrial plots on leasehold on a first-come, first-served basis.

Under this policy, any company having at least one manufacturing facility abroad that commenced production as on January 1 for at least one year is eligible to apply, an official said in May. A decision in this regard was taken at a meeting chaired by the HSIIDC Chairman Rajesh Khullar.

Khullar said this policy would entail investors to operate on land taken on lease without any capital investment initially. Later, they can convert it to a freehold asset, subject to certain terms and conditions.

The initiative to cut down the cost of doing business has been formulated in view of inputs shared by investors, said the official. The HSIIDC has approved allotment of 1.8 acres in Faridabad city for a mega project for manufacture of auto components with a proposed investment of Rs 109.46 crore.