Punjab could soon see investment from China in a big way.
Chinese PSU major Yinlong on Monday proposed to launch a pilot project to run electric cars and buses in Amritsar, followed by the smart cities of Jalandhar and ludhiana, and to set up an electrical vehicle manufacturing facility in the State.
The company will also sign a Memorandum of Understanding (MoU) with Punjab Government to facilitate the State in getting financial assistance for a series of programmes and projects, including smart technologies for smart cities, venture funding, development in the areas of Information Technology, incubation and startup activities, ePragati, among others.
In a meeting between Punjab Chief Minister Captain Amarinder Singh and a delegation of Zhuhai Yinlong New Energy Co ltd. led by its Chief Executive Officer, India, Alex li, the company also made a proposal to the Chief Minister to provide mobile handsets, under its brand name leeco, for the Captain Amarinder smart phone scheme, which the Government is all set to launch to implement a key pre-poll promise.
Giving details of the proposal for running electric buses and cars in the State, a spokesperson of the Chief Minister’s Office (CMO) said Yinlong will launch the scheme with a pilot project in Amritsar, to be extended to the smart cities in the next phase.
The scheme is proposed to be launched on the lines of similar schemes already implemented in Gujarat and Andhra Pradesh under a lease model, which enables revenue generation through sale of tickets on commercial electric vehicles, said the spokesperson.
To popularise the concept of energy vehicles, li informed the CM that the company would press several such demo vehicles into service in these cities so as to make the commuters familiar with the product. likewise, he also showed enormous interest in the energy storage systems to make the environment of State clean, green and pollution free.
li also put forward a proposal for a viable business model to set up electrical vehicle manufacturing factory in the state. The Chief Minister offered the company help in setting up an electric car factory and said his government was formulating a policy to encourage the use of electric cars, which were not energy-saving and environment-friendly.
Responding to the proposal put forth by li, the Chief Minister assured the delegation of all possible support and cooperation on behalf of the state government to make this project a reality. He said Punjab abounds in skilled labour besides congenial investment climate which could further boost the prospects of trade and commerce activities in the state.
Captain Amarinder told li that single window service provided by the Punjab Bureau of Investment Promotion (PBIP) would ensure all clearances required for setting up of industrial units in a time bound manner without any frills. The Chief Minister also said that his government was ready to forge alliance with the company on any business model as mutually accepted to both the parties.
On the request of the Chief Minister, li also showed interest in setting up joint ventures in the field of telecommunications, computers and IT sector to boost the economy of Punjab. He also extended invite to Captain Amarinder to visit China to further explore the potential of investment in the state through interaction with the top industrial houses of China.
The meeting was attended by Media Advisor to Chief Minister Raveen Thukral, Principal Secretary Investment Promotion and Finance Anirudh Tiwari, Special Principal Secretary to Chief Minister Gurkirat Kirpal Singh, Secretary Industries & Commerce Rakesh Kumar Verma and CEO, PBIP D.K. Tiwari.