Zoram Industrial Development Corporation Limited was set up in 1978 under the Companies Act, 1956. It was set up as a twin function Corporation. It is a Private Company owned jointly by Government of Mizoram and Industrial Development Bank of India (IDBI). The percentage of share capital contribution by the Government of Mizoram is 73% which is higher than 51% and the Company comes under the term ‘Government Company’
The activities of ZIDCO are to assist, finance, protect and promote the interests of Industries in Mizoram and to undertake procurement and distribution of raw materials, to facilitate licenses, establish export and marketing facilities, to acquire and develop plans, power supply and water supply, to co-ordinate between industries, to promote and operate schemes in collaboration with the Govt. of Mizoram, to enter into arrangement with the Govt. of India and Govt. of Mizoram for contracts and licenses. It is to enter into partnership, business and joint ventures with any other Company, Firm or persons, carrying on manufacturing or other business in sharing of profits within the objects of the Company. It is to establish any company or syndicate for the purpose of setting up industries. The two outstanding financial liabilities are (i) Repayment of refinance with interest to HUDCO / NMDFC and (ii) Dividend, if any, to be declared to the share holders (IDBI and Government of Mizoram). Efforts are being made to diversity its activities towards mobilization of sources of funds, Industrial Developments and other activities. Registered office of ZIDCO is located at Aizawl, State Capital of Mizoram. Till date ZIDCO is having one Branch office at Lunglei. The Branch Office covers three districts viz- Lunglei, Lawngtlai and Saiha.
ZIDCO is governed by Board of
Directors appointed by Governor of Mizoram. The Governor also appointed one of
the Directors as a Chairman of the Board, Managing Director who is also chief
executive of the corporation is appointed as member – Secretary to the Board.
The present Chairman of ZIDCO is Pu Lalthlengliana, Ex MLA and Managing Director
is Pu Lalramsanga Sailo, IRS.