ata Steel is investing Rs 2,600 crore in secondary steel sector at Ludhiana while Sanathan Polycot is investing Rs 1,600 crore in man-made fiber sector at Fatehgarh Sahib and Nabha Power is investing Rs 641 crore in power sector at Patiala
Punjab Chief Minister Bhagwant Mann on Monday said the state has received investments worth Rs 38,175 crore in various sectors during the past 10 months of the AAP-led government, which is a "testimony" that the law and order situation has improved. Addressing the media here, Mann said the state received investments in various sectors, including real estate and housing, textile, manufacturing, healthcare, agri processing and alloy steel, which has the potential to generate 2.43 lakh jobs.
Till now investment worth Rs 38,175 crore has been firmed up in the state which will generate 2.43 lakh jobs in the state for the youth, he said. "This is just a pre-monsoon shower and a regular shower of monsoon will be witnessed soon in the state during the Invest Punjab summit being held on February 23-24 at Mohali," said the CM.
Mann said that he had gone to Chennai, Hyderabad, Mumbai and Germany to invite industrialists to the summit. These industrialists are now ready to invest in Punjab, said Mann. Giving details, Mann said, Tata Steel is investing Rs 2,600 crore in secondary steel sector at Ludhiana while Sanathan Polycot is investing Rs 1,600 crore in man-made fiber sector at Fatehgarh Sahib and Nabha Power is investing Rs 641 crore in power sector at Patiala.
Toppan (Japan) is investing Rs 548 crore in the packaging sector at SBS Nagar while Nestle (Switzerland) is investing Rs 423 crore in food processing sector at Moga and Vardhman Special Steels (Aichi Steel, Japan) is investing Rs 342 crore in hybrid steel sector at Ludhiana.
Freudenberg (Vibracoustics, Germany) is investing Rs 338 crore in the auto and auto component sector at Rupnagar, and Cargill India is investing Rs 160 crore in animal feed at Fatehgarh Sahib, said Mann. "The arrival of these companies here is an answer to your question that the law and order has improved, which had deteriorated (during previous regimes)," said Mann.
"We will not allow mafias while gangsters and anti-social elements will not be patronised," he added. He asserted that maintaining law and order is one of the priorities of his government. Mann said the state received a maximum investment of Rs 11,853 crore in real estate, housing and infrastructure which will generate 1.22 lakh jobs.
Likewise, the manufacturing sector attracted investment worth Rs 5,981 crore and has potential to create 39,952 jobs. Alloy steel and steel sector got investment of Rs 3,889 crore which will provide 9,257 jobs. Textiles, technical textile, apparels and made-up sector has firmed up investment worth Rs 3,305 crore while agri, food processing and beverages sector has attracted investment worth Rs 2,854 core, said Mann.
He said the objective of the summit is to attract investment, build relationships, and engage with startups on new ideas and solutions. The summit will have participation from global and regional investors, corporate organisations, industrialists, thought leaders and others, he said.
During the summit, Punjab will showcase its overall vision for growth and opportunities for investment for industry, he said, adding that the theme of the summit is 'Invest in the Best' – to showcase Punjab as the most preferred investment destination in India.There will be a total of nine sessions organised across key areas, including agri-food processing, textiles, healthcare, education, tourism, IT and startups, exports, Japan country session and UK country session, added Mann.
The state government is making concerted efforts to further strengthen the single window system for facilitating investors. Replying to a query, the CM said no industrial unit from the state is migrating to Uttar Pradesh or any other states.
The industrial units of state will remain here only and the canards regarding their migration are far away from truth, he said. The chief minister urged the industrialists to make optimum use of this congenial atmosphere backed by excellent infrastructure, power, skilled human resources and best industrial and work culture to spread their business. About a distillery in Zira in Ferozepur, against which villagers were protesting, Mann said a notification has been issued regarding its closure.