Punjab clears projects worth Rs 1,345 cr

Chandigarh: In a major move to boost investors’ sentiments in the state, the Punjab government’s empowered committee on mega projects, under the chairmanship of Punjab Chief Minister Parkash Singh Badal, today cleared industrial projects worth Rs 1,345 crore.

A spokesman of the state government said these were the first clearances given to the new projects after the formulation of the new government policy for mega projects.

It may be recalled 41 projects worth Rs 26,343 crore were approved in the empowered committee meeting on August 14, 2007.

The projects cleared today include Aarti International Ltd, Ludhiana (Rs 242.06 crore), Avani Textiles Ltd, Sangur (Rs 134.56 crore), Oswal Spinning & Weaving Mills Ltd, Ludhiana (Rs 106.50 crore), Shiva Fibers Pvt Ltd, Doraha (Rs 145.21 crore), Grospinz Fabz Ltd, Ferozepur, (Rs 66.79 crore), Vallabh Textiles Co Ltd, Ludhiana, (Rs 124.71 crore), Grasim Industries Ltd, Lehra Mohabat, (Rs 300 crore) and Mukesh Udyog Ltd, Ludhiana (Rs 225 crore).

In a significant decision, the empowered committee conceded the demand of the mega investors that stamp duty be charged only on the land in question and not on the entire cost of the project. The chief minister said ambiguity in the policy on this issue, if any, should be immediately removed.

During an interaction with the prospective investors, Badal urged them to utilise the services of the security personnel trained by the Punjab police in their industrial units who had been well equipped with hi-tech gadgets to efficiently combat security hazards.

Badal asked the investors to tie up with the jail authorities of Ludhiana to impart training to the jail inmates in knitting and the use of woolens produced thereof would be made mandatory for the uniform of police personnel.

Prominent amongst others who were present in the meeting included Local Govt & Industries Minister Manoranjan Kalia, Finance Minister Manpreet Singh Badal, Revenue Minister Ajit Singh Kohar, Media Advisor to Chief Minister Harcharan Bains, Chief Secretary RI Singh, Financial Commissioner (revenue) Romilla Dubey and many others.