NICDC and BIADA Sign State Support and Shareholder Agreements for IMC Gaya

What was decided

On 13 November 2024, three parties — the National Industrial Corridor Development Corporation (NICDC), the Government of Bihar, and the Bihar Industrial Area Development Authority (BIADA) — signed the State Support Agreement (SSA) and Shareholder Agreement (SHA) for the establishment of an Integrated Manufacturing Cluster (IMC) in Gaya, a node under the Amritsar-Kolkata Industrial Corridor (AKIC). These two agreements are the standard legal instruments NICDC uses to launch a project company: the SSA binds the state government to provide land, approvals and support, while the SHA fixes the equity relationship between the state agency and the central corporation inside the future project company.

NICDC's own internal project-monitoring record (dated 31 May 2026) logs the State Support Agreement (SSA) between State Govt of Bihar, BIADA, and NICDIT for IMC Gaya executed on 12th November, 2024, one day ahead of the public signing event and press announcement dated 13 November 2024. Both dates point to the same transaction; this page treats 13 November 2024 as the public decision date, per the contemporaneous PIB release and news coverage.

Who signed, and on whose authority

The agreements were executed by named officials on each side: Shri Nitish Mishra, Minister, Department of Industries, Govt of Bihar; Smt. Bandana Preyashi, IAS, Secretary, Dept. of Industries, GoB; Shri Alok Ranjan Ghosh, Director, Dept. of Industries, GoB; Shri Kundan Kumar, Managing Director, BIADA; and Shri Rajat Kumar Saini, CEO & MD, NICDC.

This signing followed a chain of central-government clearances. The project proposal had earlier been recommended by NICDIT during the meeting held on 8th July 2024, and the Cabinet Committee on Economic Affairs (CCEA) has approved Integrated Manufacturing Cluster (IMC) Gaya under Amritsar Kolkata Industrial Corridor (AKIC) on 28.08.2024. That CCEA approval was part of a larger package: the Committee greenlit 12 new project proposals under the National Industrial Corridor Development Programme (NICDP), representing a substantial investment of Rs.28,602 crore, with the industrial areas located in Khurpia in Uttarakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Agra and Prayagraj in Uttar Pradesh, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in Andhra Pradesh and Jodhpur-Pali in Rajasthan. The November signing operationalised the Gaya component of that Cabinet decision.

Operative details: location, area and cost

IMC Gaya is located 39 kms south of Gaya International Airport and will cover 1,670 acres. More precisely, the site spans over 1,670 acres in Dobhi block of Gaya's Sherghati sub-division.

The project carries a projected investment potential of INR 16,524 crore and a project cost of INR 1,339 crore. Within that project cost, Rs 462.14 crore is allocated for land acquisition. The cluster is expected to create about 1,09,185 jobs.

The Bihar government has since taken supporting notification steps: it notified the site as an industrial area in March 2025 and granted a waiver on stamp duty, and separately approved the construction of a greenfield 7km alignment, connecting the IMC site to the Golden Quadrilateral (NH-19, GT Road) at a cost of Rs 142 crore.

Connectivity and planned infrastructure

The SSA/SHA package was accompanied by a connectivity and infrastructure plan for the site. On road and rail access: NH-19 (Golden Quadrilateral) is just 10 km away, while NH-22 is 2 km away, with proximity to Gaya Junction (40 km) and the upcoming New Paharpur Railway Station under EDFC (45 km); Gaya International Airport is 30 km away, Patna International Airport (135 km), and Ranchi Airport (150 km), with access to ports and terminals like Haldia Port in Kolkata (550 km). Three greenfield road projects have been proposed to further strengthen IMC Gaya's accessibility.

On-site infrastructure committed under the agreement includes a 29.89 km internal road network, 220/33 KV and 33/11 KV electrical substations, 162 MVA assured power supply, and a 19 MLD water supply system along with a skill development center, fire station, administrative office, parking, and commercial space. It will also carry 'Plug n Play' infrastructure facilities like Common Effluent Treatment Plant, Sewage Treatment Plant, Water Treatment Plant, Solid Waste Management, Stormwater drainage, and green landscaping.

The cluster is targeted at specific manufacturing sectors: building materials, agri-food processing, leather goods, readymade garments, furniture, handloom and handicrafts, engineering & fabrications and medical equipment. Later official material adds auto components, steel-based products, aerospace and defence to the target-sector list.

Practical effect: what the signing enabled

The SSA/SHA signing is the legal trigger that let implementation proceed. Within weeks, a project-specific special purpose vehicle, Bihar Integrated Manufacturing City Gaya Ltd (BIMCGL), was established on January 6 2025, to execute the project on the ground. Environmental clearance followed at the Ministry of Environment, Forest and Climate Change on March 18 2025.

According to NICDC's own project-monitoring update (dated 31 May 2026), tangible resource transfers have since taken place: 414-acre land transferred by State govt. to Project SPV and matching equity amounting to Rs. 132.22 Crore has been released by NICDIT to Project SPV. Programme management was then engaged — LoA issued by SPV for Programme Manager for New Cities (PMNC) on 28th July, 2025 — and the project's national profile rose further when it was reviewed by Hon'ble PM during the 49th Pragati Meeting on 24th September 2025.

Construction procurement has now begun: the EPC tender 2nd call floated on 16th Oct, 2025, with a LoA issued by SPV on 11th Feb'2026 to M/s NKC Projects Pvt. Ltd, followed by a Kick-off meeting with EPC contractor held on 25th Feb'2026. Separately, in April 2026, the Bihar Cabinet approved a proposal pertaining to upgradation of existing external connectivity E1 (1.6 km) for IMC Gaya project, including construction of a new bridge on River Falgu along with approach road on 29th April 2026.

Timeline of the decision and its follow-through

• 8 July 2024 — Project proposal recommended by NICDIT.
• 28 August 2024 — CCEA approves IMC Gaya under AKIC, as part of a 12-project, ₹28,602-crore package.
• 12–13 November 2024 — SSA and SHA signed/executed between NICDC/NICDIT, Government of Bihar and BIADA (per NICDC tracker, executed 12 Nov; publicly announced 13 Nov).
• 6 January 2025 — SPV Bihar Integrated Manufacturing City Gaya Ltd (BIMCGL) established.
• 18 March 2025 — Environmental clearance granted by Ministry of Environment, Forest and Climate Change.
• March 2025 — Bihar government notifies the site as an industrial area and grants a stamp-duty waiver.
• 28 July 2025 — LoA issued for Programme Manager for New Cities (PMNC).
• 24 September 2025 — Project reviewed by the Prime Minister at the 49th Pragati Meeting.
• 16 October 2025 — Second call of the EPC tender floated.
• 11 February 2026 — EPC Letter of Award issued to M/s NKC Projects Pvt. Ltd.
• 25 February 2026 — EPC contractor kick-off meeting held.
• 29 April 2026 — Bihar Cabinet approves upgradation of external connectivity E1, including a new bridge over the Falgu river.

As of this record, IMC Gaya has moved from a signed intergovernmental agreement (Nov 2024) to an SPV with land and equity in place and an EPC contractor mobilised on site (early-to-mid 2026); it has not yet reached operational/completed status.