Rs 38,175 cr investment in state in 11 months: CM

Tribune News Service

Chandigarh, February 13

Chief Minister Bhagwant Mann today said the state had received investments worth Rs 38,175 crore in various sectors after the Aam Admi Party (AAP) came to power 11 months ago.

Addressing the media, Mann said the investments were expected to generate at least 2,43,248 jobs in different sectors.

He said, “The investment picture in Punjab will become clearer after the Investment Summit in Mohali on February 23 and 24. Special sessions will be held on agri-food processing, textiles, healthcare, education, tourism, IT and start-ups.” Industry Minister Anmol Gagan Mann was also present on the occasion.

Mann said he met industry leaders during his visits to Germany, Bengaluru, Mumbai and Hyderabad to seek investment in the state. Real estate and housing and infrastructure had got investments worth Rs 11,853 crore and would generate 1.22 lakh jobs; the manufacturing sector with Rs 5,981 crore would generate 39,952 jobs; the alloy and steel sector with Rs 3,889 crore was expected to generate 9,257 jobs; the textiles and apparels sector with Rs 3,305 crore would create 13,753 jobs; the agri, food processing and beverages sector with Rs 2,854 crore would provide 16,638 jobs; and healthcare with Rs 2,157 crore would provide 4,510 jobs.

The CM said Tata Steel (Fortune 500) was investing

Rs 2,600 crore in the secondary steel sector in Ludhiana, Sanathan Polycot was investing Rs 1,600 crore in the man-made fiber sector in Fatehgarh Sahib; Nabha Power (L&T) Rs 641 crore in the power sector in Patiala; Toppan (Japan) Rs 548 crore in the packaging sector at SBS Nagar; Nestle (Switzerland) Rs 423 crore in the food processing sector in Moga; Vardhman Special Steels (Aichi Steel, Japan) Rs 342 crore in the hybrid steel sector in Ludhiana; Freudenberg (Vibracoustics, Germany) Rs 338 crore in the auto and auto components sector at Rupnagar; Bebo Technologies Rs 300 crore in the IT sector at SAS Nagar; HUL (UK) Rs 281 crore in Patiala; and Cargill India (USA) Rs 160 crore in the animal feed sector in Fatehgarh Sahib.

To a query, the CM said no industrial unit from the state was migrating to Uttar Pradesh. He said the state had taken a leap towards being power surplus after the resumption of the coal supply from the Pachwara mine. On possible trade with Pakistan, Mann said there was no point of any trade relations with Pakistan when it was engaged in creating cross-border disturbances by sending drones with drugs and weapons.

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