Punjab Receives Investment Proposals Worth 1,300 Crore


MaaPeya Da LaaDLa
May 13:
Punjab has received six fresh investment proposals amounting to Rs.1,300 crore from companies, including Green Planet and Century Plywood, for setting up agro-based industries which would generate 3,500 jobs in the State.
The screening committee has recommended these mega project proposals to the empowered committee headed by Chief Minister Parkash Singh Badal for its approval, said an official of the State-run Punjab Agro Industries Corporation here. The other companies interested in investing in the State are SSA International, Tara Feed, Kisan Fat and Oasis Beverages.
As per the project proposals, Green Planet Energy has decided to invest Rs. 970 crore for setting up a bio-gas plant with a total capacity of 147 MW at 14 different locations in the State. The company has proposed to generate 1,700 jobs from this project, an official said. Plywood maker Century Plyboards proposes to invest Rs.190 crore for setting up a plywood factory in Hoshiarpur district which would offer direct employment to 1,200 people.
The capacity of plywood and Medium Density Fibre (MDF) board production would be 40,000 (cubic metres) per year, the official said. The company has recently received clearance from the Centrally Empowered Committee for setting up of plywood plants, he added. Tara Feed would invest Rs. 39 crore on setting up a rice bran oil refinery in Malerkotla with a production capacity of 120 tons per day.
Another project of fruit juice and carbonated drink bottling plant has been proposed by Oasis Beverages near Ludhiana district with an investment of Rs. 28 crore. Kisan Fat has proposed to set up a new manufacturing facility of par boiled rice, power generation and modernisation of existing plant with an investment of Rs. 42 crore at Jalalabad in Ferozepur district. Another company SSA International would spend Rs. 29 crore on establishing a basmati rice mill of 180 tons per day capacity at Mirthal in Gurdaspur district.
The State has so far received commitment of Rs. 3,500 crore of investment in 37 mega projects in agro based industries since 2006. Punjab considers investment of more than Rs. 25 crore in agro-based industries as mega project, the official said. Under mega project policy, Punjab offers exemption of stamp duty on land acquisition by the company, besides relaxing 50 per cent relaxation in payment of electricity duty. Moreover, it also offers 100 per cent exemption to a company from market fee and rural development fund for procuring fruit and vegetables from grain markets, he said.