Royale Estate Group's upcoming MIEZ gets approvals from Punjab government
Approvals all set to put project on the fast track. Region's economy poised for a turnaround due to MIEZ.
Chandigarh, January 4, 2023: Royale Estate Group's (REG), upcoming Mohali Industrial Economic Zone (MIEZ) on Banur-Tepla Road has got approvals from the Punjab Government. REG, a leading name in infrastructure development in the region, is building an ambitious project - MIEZ. A state-of-the-art facility, MIEZ is being developed in 100 plus acres of land.
Parveen Kansal, Chairman and Managing Director (CMD), REG, said that MIEZ has got the Punjab government’s approval for layout vide letter no. 5257 CTP (PB)/CR-5 in continuation to Change of Land Use and permission for development. MIEZ has already got NOC from NHAI and Forest Department and other approvals.
“MIEZ is the region’s first of its kind state-of-the-art industrial facility, being developed on Banur Tepla Road in 100+ acres of land. We are grateful to Punjab Chief Minister Shri Bhagwant Mann, Shri Aman Arora, Minister of Housing and Urban Development, and Smt Anmol Gagan Mann, Minister of Investment Promotion of Punjab, for their kind support,” added Parveen Bansal.
Many investors have already chosen MIEZ as their destination for future growth. Vinod Kumar Batta is setting up a warehouse. VK Engineering Works – which makes tractor linear guides, gear shift forks and tractor ram cylinders in Hoshiarpur, Punjab – is setting up its unit here. Boparai Metals Pvt Ltd – manufacturer of CI casting and precision machined components for leading tractor manufacturing companies – will have its base at MIEZ, while Bansal Textile has opted for MIEZ as its next investment and expansion destination. Some of the other investors are Mahajan Industrial Corporation, Health Guard Packaging Pvt Ltd, and Green Energy.
Talking about benefits of MIEZ, Mr Ashish Mittal, Director, REG said that MIEZ is being established in tune with the vision of 'Invest Punjab’. It will be suitable for all kinds of industries – textiles, chemicals, pharmaceuticals, tools and precision, assembling units, printing press, building material, warehousing solutions, cold storages, engineering and fabrication units, electrical and electronic items, food and food processing, ceramics and refractories, distillery, pesticides and many more.
The plan is to offer a 360 degree solution for all industrial needs. It will have an effluent treatment plant (ETP), skill development centre, R & D centre, tool and equipment room, wide roads and all civic amenities. “It will be a unique investment hub. First of its kind Integrated Industrial Park dedicated to the MSMEs. The project is in tune with the vision of PM Modi to make India self-reliant,” added Ashish.
According to Neeraj Kansal, Director, REG, MIEZ is planned to be built on the most strategically located NH 205A, which is witnessing traffic volume of around 50,000 per day between Manali-Ambala-Delhi Road. MIEZ has on hand connectivity to NH-7 and NH-1. It lies in the vicinity of the dry port at Shambhu bordering Punjab and Haryana. It is also in the close proximity to Amritsar-Kolkata Industrial Corridor (AKIC).
REG is a zero debt company with no bank liability and obligations. “Our lands are registered in the company’s name. We work with transparency and honesty as our guiding business principle is – “Hum Banate Bhi Hain Aur Basaate Bhi Hain,” Neeraj said further.
Piyush Kansal, Director, REG said, “Even in the United Kingdom, we have made our presence felt in the last decade and have completed 10 residential projects with five ongoing projects there itself."
“Royale Estate Group is a trusted name in the realty sector for more than two decades. We have been able to carve a niche in the field of building construction and development for our innovative project planning and project execution with timely delivery,” summed up Piyush.