Videocon to set up multi prod SEZ in Punjab
Chandigarh,
Sep
9:
Electronics
and
Home
Appliances
major,
Videocon
Group
will
set
up
a
multi
product
SEZ
in
Punjab
with
an
intial
investment
of
Rs
100
crore.
"This is the intial investment, which will be increased to Rs 500 crore later on and even beyond", Videocon Chairman Venugopal N Dhoot said here today.
Addressing a press conference Mr Dhoot said that the SEZ would for electronics and hardware and also for agro based products as this industry had a great scope in a agri state like Punjab. The SEZ will be set up on 2500 acres of land.
Mr Dhoot informed that an application in this regard had been forwarded to the Punjab government. He is scheduled to meet Chief Minister Parkash Singh Badal this evening.
Mr Dhoot however made it clear that the company would acquire the land for the project directly from the farmers or land owners at the market rate. The land owners will be provided jobs in this SEZ and would also be made share holders in the project, he added.
The Videocon chairman said that Punjab was an ideal state for an SEZ as it had the required infrastructure. Power would be no problem in the years to come as the Punjab government has planned out a number of power projects, he said while replying to a querry.
UNI