Punjab: PSEIC rakes in ₹163cr from auction of 77 units

Punjab industries and commerce minister Sanjeev Arora said the response demonstrated the robust demand for industrial land and renewed investor confidence

As many as 77 industrial plots located in various focal points across Punjab were allotted in the latest e-auction conducted by the Punjab Small Industries and Export Corporation (PSIEC).

The cumulative base value of these plots, located across Punjab, was approximately ₹72.50 crore. (HT)

Punjab industries and commerce minister Sanjeev Arora on Friday said the cumulative base value of these plots was approximately ₹72.50 crore, whereas the final bids received amounted to an impressive ₹163.50 crore, reflecting more than double appreciation over the reserve price.

He said the response demonstrated the robust demand for industrial land and renewed investor confidence. The significant price realisation underscored the strategic location, infrastructure readiness and immense development potential of the industrial focal points, he added in a statement.