Volvo keen on manufacturing facility in Punjab
Punjab deputy chief minister Sukhbir Singh Badal held meetings with industrial groups in Bengaluru, during the course of which multinational Volvo said it was keen to enter into a PPP (public private partnership) with the Punjab government for the Bus Rapid Transport System (BRTS) in Amritsar, besides considering the setting up a Volvo manufacturing facility in Punjab.Updated: Aug 07, 2015 22:09 IST
Punjab deputy chief minister Sukhbir Singh Badal held meetings with industrial groups in Bengaluru, during the course of which multinational Volvo said it was keen to enter into a PPP (public private partnership) with the Punjab government for the Bus Rapid Transport System (BRTS) in Amritsar, besides considering the setting up a Volvo manufacturing facility in Punjab.
Volvo India managing director Kamal Bali and Volvo buses MD VRV Sriprasad, during their interaction with Sukhbir and his team, said there was a huge scope for cooperation in city bus and bus rapid transport systems. Sriprasad said Volvo was the only company which was manufacturing BRTS buses, following which the deputy CM said Punjab was ready for a joint venture with Volvo for BRTS.
Bali said Volvo was seriously considering Punjab as a destination for setting up a car manufacturing plant and would send its team to make an on-ground assessment.
Meanwhile, Infosys announced on Friday that it would start the construction of its 25,000-seat Mohali facility within a month and complete the first stage of the project within 18 months.
According to a Punjab government spokesperson, Infosys executive vice-president Ramadas Kamath gave this assurance to Sukhbir during an interaction held in Bengaluru as part of the build-up to the Invest Punjab summit to be held in Mohali in October.
During his interaction with the Invest Punjab team, including industry minister Madan Mohan Mittal and chief parliamentary secretary NK Sharma, Kamath said the new facility at Mohali would be a win-win situation for both the company and Punjab.
In another development, Nextwealth Entrepreneurs gave a presentation on how investors could be attracted to establish BPOs in tier-two and tier-three towns. Nextwealth Founder and MD Dr Sridhar Mitta said it had expertise in creating jobs for youth in small towns by coming out with small workable business models. Detailing how his model worked, Dr Mitta said small entrepreneurs with an investment of Rs 1 crore over two years were employing 250 to 300 rural youths in such projects in Salem (Tamil Nadu) and that they could be easily replicated in Punjab.
In another meeting, Toyota vice-president Vikram Kirloskar offered to set up an ITI in Punjab to give training in automotive repair and maintenance. The deputy CM said the state could even enter into a joint venture with Toyota for establishing this facility.
Punjab's investment promotion bureau chief executive officer Anirudh Tewari extended an invitation to all dignitaries to attend the Invest Punjab summit on October 28-29.
First Published: Aug 07, 2015 21:58 IST