Punjab attracts over Rs 50k cr investments, CM claims

| | Rajpura
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Punjab attracts over Rs 50k cr investments, CM claims

Monday, 02 October 2023 | PNS | Rajpura

In a significant development, Punjab Chief Minister Bhagwant Mann on Sunday claimed that Punjab has successfully attracted investments exceeding Rs 50,000 crore in the past 18 months. These investments are a result of the determined efforts of the State Government to create an environment conducive to business growth, he said.

 

Mann, addressing a gathering at the foundation stone-laying ceremony of a cutting-edge cattle feed plant worth Rs 138 crore set to be established by the Dutch-based company De Heus, underscored the importance of diversification in agriculture. He highlighted the need for farmers in Punjab and Haryana to explore avenues beyond traditional crops, such as horticulture, dairy, poultry, fishery, and piggery, to enhance their income prospects.

 

De Heus, one of the world's top 10 global animal feed companies from the Netherlands, is venturing into Punjab with this state-of-the-art plant, raising hopes for farmers in the region — marking the first major investment by a Dutch company in the State.

 

The Netherlands is renowned as the second-largest exporter of agricultural products globally, making this collaboration a promising prospect for both parties. The newly-established plant is set to produce a comprehensive range of livestock products, including compound feed, concentrates, base mix, and dairy mineral mixes.

 

In the initial phase, which is expected to commence in the first quarter of 2025, the plant will manufacture 180 kilo metric tons (KMT) of animal feed, with plans to increase production to 240 KMT. The factory will feature two dedicated production lines for efficiency.

 

Mann emphasized his commitment to attract investments to Punjab, noting that the State has already secured significant commitments from various companies. Tata Steel has made the most substantial investment in the state, followed by companies like Jindal Steel, Virgio, Class, Tafe, and Hindustan Unilever. These investments are set to generate employment opportunities for approximately 2.25 lakh youths in the state.

 

The Chief Minister celebrated the fact that the Dutch investment is a testament to Punjab’s potential, countering the skeptics who doubted the state’s ability to attract investments. He highlighted the industrious nature of Punjabis, emphasizing their entrepreneurial spirit and leadership qualities.

 

Mann described the collaboration between Punjab and Netherlands as an opportunity for both nations to excel and script a new success story of economic growth. He urged industrialists to capitalize on Punjab’s business-friendly environment, citing excellent infrastructure, reliable power supply, skilled human resources, and a favorable industrial and work culture as key advantages.

 

“Punjab is not only a land of opportunities but also a gateway to the country, making it an attractive destination for entrepreneurs from around the world. The state's communal harmony, industrial peace, and congenial atmosphere for industrial growth have contributed significantly to its overall development and prosperity,” he said.

 

The Chief Minister extended a warm welcome to the industrialists, expressing the government's openness to new ideas and innovations to further boost industrial growth in Punjab. He concluded by affirming that the state is rapidly scripting a new success story across various sectors.

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