Punjab receives Rs 300 cr agro-processing investment proposals

Chandigarh, Jan 25 (PTI) The agro-processing sector inPunjab got a boost, with the state receiving investmentproposals worth Rs 300 crore in various segments.

The mega project investment proposals include setting upof two textile units, expansion of barley processing plant,Union Food Processing Ministry''s Mega Food Park and a biogasplant in the state.

The screening committee of the Punjab government hascleared these projects, a senior official of state-ownedPunjab Agro Industries Corporation (PAIC) said, engaged inpromotion of agriculture processing units.

Punjab offers incentives such as exemption in stamp dutyon buying land, electricity duty, etc, on setting up a megaproject with investment over Rs 25 crore in the state.

As per the new proposals, two new textile units arecoming up at Samana in Patiala, with combined investment of Rs65 crore. JD Spintex and GM Spinfab have made proposals ofputting up two textile units of 14,000 spindles and 16,500spindles respectively. Both these units will offer employmentfor 300 people, an official of PAIC said.

UB Group''s subsidiary Maltex Malsters has proposed toexpand its barley processing into malt capacity from 20,000tonnes to 50,000 tonnes per annum in next 1.5 year, at a costof Rs 31 crore. The company has a unit in Patiala and it usesmalt for its distillery business.

Another project proposal is of setting up the state''sfirst Mega Food Park, conceptualised by the Union FoodProcessing Ministry, coming up at Fazilka, with an investmentof Rs 132 crore, offering 5,000 jobs.

The ministry awarded the Mega Food Park project, comingup at 50 acres of land, to International Fresh Farm ProductsLimited for its development.

It will have state-of-the-art infrastructure meant foragro or food-processing sector along with value chain fromfarm to market that would help in attracting investments infood processing sector and fetch remunerative returns forfarmers.

Another company called Sampuran Agri Ventures hasproposed to set up a paddy straw based biogas generation plantat Fazilka, entailing investment of Rs 62 crore, withprocessing capacity of 105 tonne per hour.

Punjab has received investments worth Rs 5,000 crore infarm processing unit during last four years.