As many as 52 projects, with an investment of Rs 5,180 crore, have been cleared by Punjab Bureau of Investment Promotion (PBIP) during the last three months.
Besides, 47 more projects worth Rs 22,342 crore were at an advanced stage of approval, while 15 other projects were at a preliminary stage of approval. “The Bureau has received 74 applications for setting up of different projects,” said PBIP chief executive officer (CEO) Anirudh Tewari.
He said that Deputy Chief Minister Sukhbir Badal redressed two major issues —providing 24 hours power supply and speedy clearances for projects — put forth by investors during the Investment Summit held last year.
Elaborating the functioning of the PBIP, Tewari informed that integration of nine administrative departments like Pollution Control Board, power, revenue, forest and agriculture with the Bureau had enabled the State to grant all clearances within 15 days.
“Punjab is the first State to approve all types of clearances to the entrepreneurs within two weeks. Bureau would be able to approve the projects ahead of time after launching of its online portal very shortly,” said the CEO.
Tewari said that IT giant Infosys had started construction of its campus in IT city at SAS Nagar Mohali, while setting up of Feed Plant by Cargill India at Bathinda has got momentum after its foundation stone was laid in February.
He said that land has already been allotted to ITC for setting up Food Processing Unit worth Rs 100 crore at Kapurthala. Besides, Mahindra and Mahindra and Amity Group have signed an agreement to establish world class universities at Edu-City in New Chandigarh on the outskirts of Chandigarh.
Tewari informed that to provide high speed internet services in Punjab, especially in villages, Reliance Jio and Airtel would provide 4G services with Rs 4,000 crore, out of which Rs 250 crore has also been invested by the Airtel for expansion of network in the initial stage.