ITC limited, a multi-business conglomerate, on Friday announced to double its investment in Punjab from earlier Rs700 crore to Rs1,400 crore.
ITC limited’s fast-moving consumer goods (FMCG) businesses president Sanjiv Puri, during his interaction with Punjab Deputy Chief Minister Sukhbir Badal, said that his company was increasing its investment in the Food Park at Kapurthala.
Puri said that ITC had succeeded in making Kinnow juice, and the product was under consumer testing and would be in the market within the current financial year.
Sukhbir was in the national capital to meet the top corporate honchos.
Godrej Agrovet limited managing director Balram Yadav, while replying to a proposal made by Deputy Chief Minister, said that his company would evaluate setting up a greenhouse and food park over 100 acres.
Sukhbir said that the Government was ready to create entire infrastructure for the greenhouse at ladhowal. “Companies and farmers taking up area in the greenhouse would have to pay operating costs only,” he said.
Molson Coors president Ravi Kaza, who also met Sukhbir, announced that his company was upgrading its plant by investing Rs50 crore. Representatives of Marks and Spencer, Cannon, Shakti Bhog Atta, Walmart and Dabur also held one-to-one meetings with Deputy Chief Minister.
Dabur representative Sunil Duggal expressed interest in processing kinnows, while Walmart representatives said that there was scope of opening a dozen more Walmart stores in Punjab as the company's stores in Punjab had the best sales.
Briefing the industrialists, Sukhbir said that the State Government was coming out with a policy which would offer cheapest power in the country to new investors. “Besides, the Government is in the process of banning any inspector from entering any factory premises,” he said.