Punjab govt nod to Rs 11,170-cr projects

The Punjab government ?s empowered committee on mega projects on Wednesday cleared 11 new projects worth Rs 11,170 crore. These include six projects in the industrial sector and the rest in the agro-industrial sector entailing an investment of Rs 9,920 crore and Rs 1,250 crore respectively. Some of the projects in the industrial sector also cover housing and multiplexes projects.

Clearances to these projects come close on the heels of infrastructure development projects worth Rs 20,000 crore cleared by the state government last week.

The committee also decided to stipulate that other things remaining equal, preference would be given to Punjabi youth for employment

in these projects, said chief minister?s media advisor

Harcharan Bains. Most of these projects have significant employment potential with economic multiplier effect,

he added.

Bains said that in keeping with the government policy, the committee also decided to extend special incentives to investors. Accordingly, 50% concession in the rates of external development charges (EDC) and 75% in license fee would be admissible to mega projects in category A. However, 5% of the total amount payable by the developer on account of EDC, CLU and other license fee would be levied as health and social security fund. It would be recovered in addition to the EDC, CLU and license fees.

This amount, said Bains, would be deposited in separate corpus to be established by the state government under health and social security schemes for the welfare of the poor. The rates of EDC, license fee and CLU charges would be as per the different components in the industrial park and also dependupon the potential zone in which the park falls. Where a piece of land falls in more than one potential category, the proportionate rate of fiscal charges for each category would be applicable, he said.

Also, the project land where change of land use (CLU) had already been granted as part or whole of a project would not be included in the future super mega industrial park projects.

The projects approved

include 6 multiplexes-cum-hotel projects. Also, two super mega mixed use integrated industrial parks would be developed, one by Emaar MGF Land Ltd over an area of 2,750 acre with a capital investment of

Rs 5,000 crore, another by Chandigarh infotech over an area of 1,170 acre in Mohali district with a capital investment of Rs 3,500 crore.

The Empowered Committee also approved five agro projects including a biomass-based project of 147mw to be set up by Green Planet Energy Pvt Ltd of Mumbai at a cost of Rs 955 crore. This project would have power plants at 14 locations in the state.

at Barnala (10 mw), Nihalsinghwala (6 mw), Jaito (13 mw), Faridkot (9 mw), Bathinda (14 mw) Fatehgarh Sahib (11 mw), Amloh (6 mw), Sultanpur Lodhi (9 MW), Garhshankar (10 MW), Nakodar (10 mw), Phillaur (10 MW), Shahkot (10 MW), Ludhiana (15 mw) and Raikot (14 mw). Besides this project, Century Plyboard India Ltd. of Kolkata would set up a plywood and Medium Density Fiber Board (MDFB) in Hoshiarpur district with the capacity of 40000 Cu Mtr and 90000 Cu Mtr respectively at a cost of Rs189 crore. The other agro-based projects included M/s Tara Feed Ltd near Malerkotla (Rs 35.90 crore), Oasis Beverages Pvt Ltd in Ludhiana district (Rs28 crore) and Kissan Fats Ltd in Ferozepur district (Rs 42.50 crore).