SICOM: Catalyzing industry for over three decades
Since its inception in 1966, SICOM has dedicated itself to providing entrepreneurs with a range of fund-based and non fund-based products and services. For more than 5 decades SICOM has been responsible for catalyzing the development of infrastructure and industry in the State of Maharashtra.
After 1994 SICOM has been offering its services for projects located anywhere in India.
SICOM has regional offices at Delhi and Nagpur, in addition to the HO at Mumbai. SICOM's belief in continuously upgrading it's products and providing a wide range of financial and advisory services to Indian and international investors is reflected in its vision.
- To emerge as a leading public financial institution in the country devoted to achieving sustainable and balanced economic development through value based financial services
- To excel on the strength of professional competence, innovation, customer orientation, enrichment of all stakeholders and empowerment of employees
- To set an example of enlightened Corporate Governance and Citizenship.
An Institution with a Glorious Track Record
- SICOM was the first State Industrial Development Corporation (SIDC) in the country to introduce the marketing concept in development banking. The backward regions of the State were actively marketed to the established industrialists and the new entrepreneurs, using a bouquet of Industrial Escort Services apart from financial assistance.
- SICOM helped Maharashtra achieve "The Most Industrialized State" status by adopting "Growth Centre" concept in attracting Industries to the backward regions, thereby transforming cities like Nashik, Aurangabad, Nagpur, Mahad and several other areas of the State into booming industrial centers.
- SICOM actively participated in the formulation and implementation of policies of the State pertaining to Industrialisation such as the Package Scheme of Incentives, which continues to act as an incentive for Industrial Investment.
- Several established industrialists in the State owe their success to the hand holding done by SICOM in their initial years in the selection of project idea, preparation of project report, site and machinery supplier selection and financial assistance by way of the term loan, seed capital / venture capital assistance.
- SICOM promoted projects in the remote areas of the State to create employment and to better utilise the natural resources available locally, at a time when private entrepreneurs were reluctant to establish projects in such areas.
- SICOM also co-promoted several projects by joining hands with private entrepreneurs in diverse industries.
- SICOM promoted The City and Industrial Development Corporation (CIDCO) and set the ball rolling for development of the city of Navi Mumbai.
- SICOM pioneered financing of Roads and Bridges on Build Operate and Transfer (BOT) model in mid-nineties. Several large companies in the Road Development Sector were benefited from loans extended by SICOM in their initial years when Banks were yet to adopt road financing in a big way.