Punjab govt clears 41 mega projects

Chandigarh, Aug 14 (UNI) The Punjab government today cleared 41 mega industrial projects with an investment of over Rs 26,000 crore.

A decision to this effect was taken in a meeting of the Empowered Committee chaired by Chief Minister Parkash Singh Badal here.

Thirty Industrial Park Projects (IPPs) have been issued Letters of Intent (LoI), while the empowered committee decided to follow suit in the case of eleven others.

The companies who are issued LOI are Ansal Properties and Infrastructure Ltd, New Delhi, Punjab Wool Combers Ltd, Ludhiana, ITFT Consultancy (P) Ltd, Chandigarh, Swaraj Infotech Park, Chandigarh, Futuristic Technology Infrastructure (P) Ltd, New Delhi, Pragati Techno Ltd, New Delhi, MD Infrastructure Consultants, Chandigarh, Dynamic Goobal Propfranchies (P) Ltd, New Delhi, EMAAR Mgf Land (P) Ltd, New Delhi and Shipra Estate, New Delhi.

It was also decided that agreement be signed in case of 32 companies after the promoter concerned have fulfilled the conditions as stipulated in the Letter of Intent issued to him/them.

According to an official spokesman, the government is of the view that the objective of the Industrial Park Projects was to increase the availability of industrial plots as the State Government was now not acquiring land for developing Industrial Focal Points and the Industrial Policy encourages the private developers to develop Industrial Parks by purchasing the land on their own.

The spokesman said the policy parameters of state government have been kept in line with the Policy of the Union Government to encourage industrial parks in private sector. Such Parks could be developed in a minimum 10 acres of contiguous land.

Under the existing policy parameters, Industrial Parks can also be set-up on the existing industrial land allotted to industrial units after getting the same converted into Industrial Parks, provided the industrial units had remained in production for years five on such land.

Sixty percent of the area of the Industrial Park is to be used for industrial purposes and remaining for housing and commercial and commercial usage, but that must not exceed ten per cent of the total area, the spokesperson said.

UNI