Punjab govt clears Rs 1,345 cr mega projects

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Chandigarh, Nov 6 (UNI) In a major move that is certain to boost investors' sentiments in the state, the Punjab government's Empowered Committee on mega projects today cleared industrial projects worth Rs 1,345 crore.

The committee met here under the chairmanship of Chief Minister Parkash Singh Badal.

The projects cleared today included those of Aarti International Ltd, Ludhiana, Avani Textiles Ltd, Sangur, Oswal Spinning and Weaving Mills Ltd, Ludhiana, Shiva Fibers Pvt Ltd, Ludhiana, Grospinz Fabz Ltd, Ferozepur, Vallabh Textiles Company Ltd, Ludhiana, Grasim Industries Ltd, Lehra Mohabat and Mukesh Udyog Ltd, Ludhiana.

In another significant decision, the empowered committee conceded the demand of the mega investors that stamp duty be charged only on the land in question and not on the entire cost of the project as was the case in the past. The Chief Minister ordered that ambiguity in the policy on this issue, if any, should be immediately removed.

During an interaction with the prospective investors after the meeting, Mr Badal urged them to utilise the services of the security personnel trained by the Punjab Police in their industrial units who had been well equipped with hi-tech gadgets to efficiently combat security hazards.

The Chief Minister also asked the investors to tie up with the jail authorities of Ludhiana to impart training to the prison inmates in knitting and the woollens.


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