PBIP clears 52 projects with investment of Rs. 5180 crore

Chandigarh, June 22, 2014: The Punjab Bureau of Investment Promotion (PBIP) has cleared 52 projects with an investment of Rs. 5180 crore during the last few months.

A spokesman from Deputy Chief Minister Sukhbir Singh Badal's office here said 47 more projects worth Rs.22342 crore were at an advanced stage of approval. Besides this, 15 projects were at a preliminary stage of approval.

Meanwhile PBIP CEO Anirudh Tewari disclosed that the Bureau had received 74 applications for setting up of different projects. He said Deputy Chief Minister Sukhbir Singh Badal has already redressed two major issues put forth by the investors during the Investment Summit held last year. These include providing 24 hours power supply and speedy clearances for projects.

Elaborating the accelerated functioning of the PBIP, Tewari informed that integration of 9 administrative departments like Pollution Control Board, Power, Revenue, Forest and Agricultural Department with the bureau had enabled the State to grant all clearances within 15 days. He informed that Punjab was the first State to approve all types of clearances to the entrepreneurs within two weeks. Adding further, he said that bureau would be able to approve the projects ahead of time after launching of its online portal very shortly.

Giving details, Tewari added that IT giant Infosys had started construction of  its campus in IT city at SAS Nagar whereas setting up of Feed Plant by Cargill India at Bathinda has also got momentum after Deputy Chief Minister Sukhbir Singh Badal laid its foundation stone in February this year. He said that land have already been allotted to ITC for setting up Food Processing Unit worth Rs. 100 crore at Kapurthala. Besides, Mahindra & Mahindra and Amity Group have also signed an agreement to establish world class universities at Edu-City in New 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. 4000 crore, out of which Rs.250 crore has also been invested by the Airtel for expansion of network in the initial stage.