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HindustanTimes Fri,01 Aug 2014

52 projects with investment of Rs. 5,180 cr cleared in Punjab

PTI  Chandigarh, June 22, 2014
First Published: 19:55 IST(22/6/2014) | Last Updated: 19:57 IST(22/6/2014)

52 projects with an investment of Rs. 5,180 crore have been cleared by the Punjab Bureau of Investment Promotion (PBIP) during the last three months.

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Besides, 47 more projects worth Rs. 22,342 crore were at an advanced stage of approval, while 15 other projects were at a preliminary stage of approval, an official spokesman said today.

A release quoting PBIP CEO Anirudh Tewari, meanwhile, said the Bureau has received 74 applications for setting up of different projects.

He said deputy chief minister Sukhbir Singh Badal redressed two major issues -- providing 24 hours power supply and speedy clearances for projects -- put forth by investors during the Investment Summit held last year.

Elaborating the functioning of the PBIP, Tewari informed that integration of 9 administrative departments like Pollution Control Board, power, revenue, forest and agriculture with the bureau had enabled the state to grant all clearances within 15 days.

Tewari said IT giant Infosys had started construction of its campus in IT city at SAS Nagar while setting up of Feed Plant by Cargill India at Bathinda has got momentum after its foundation stone was laid in February.

He said land has already been allotted to ITC for setting up Food Processing Unit worth Rs. 100 crore at Kapurthala.

Besides, Mahindra and Mahindra and Amity Group have signed an agreement to establish world class universities at Edu-City in New Chandigarh on the outskirts of Chandigarh.

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