Punjab signs MoU with DLF on SEZ

Amritsar, Mar 24 (UNI) The Punjab government today signed a Memorandum of Understanding (MoU) with DLF Universal Limited for setting up the Rs 453.69 crore Special Economic Zone (SEZ),the dream project of Prime Minister Manmohan Singh for the Holy City.

On behalf of the Punjab government, Industries and Commerce Secretary Sanjay Kumar signed the MoU while Managing Director Yogesh Verma inked the MoU for DLF.

Punjab Chief Minister Capt Amarinder Singh and his Cabinet colleagues were present on the occasion.

Later addressing mediapersons, Capt Singh outlined the terms and condition of the MoU and said that DLF would set up the SEZ at Amritsar on an area of 1000 acres or above with an investment of Rs 453.69 crore over a period of five years from the date of handing over the possession of the land for SEZ.

He categorically said that the state government would act as a facilitator and the SEZ would be eligible for all the benefits under the SEZ Policy of the state.

Capt Singh said that the Punjab government had liberalised its policies also to attract foreign investment in the state and restore confidence among the foreign investors and entrepreneurs. He also mentioned that Punjab was being projected as the more preferred investment destination due to the investor friendly and congenial atmosphere.

To boost industrialisation in the state in a big way as many as 149 mega projects had been approved by the state Empowered Committee involving an investment of Rs 56000 crore thereby generating direct and indirect employment potential of 10 lakh jobs.

Referring to the setting up of SEZs, Capt Singh said that the Government of India had approved three out of nine SEZs-- two at Mohali in IT park by Quark, Pharmaceutical by Ranbaxy and one a multi product at Amritsar. The proposal for remaining six SEZs was under the active consideration of the Central government.

Referring to the mega projects in housing and townships, Capt Singh said that developers and promoters had evinced keen interest to develop mega townships in Punjab and the Empowered Committee had approved projects worth Rs 3500 crore.

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