CHANDIGARH (PTI): After a decade of militancy, Punjab appears set for an industrial revolution,

With the situation in the north Indian state normalizing, there is virtually a flux of entrepreneurs, including Non Resident Indians (NRIS), for setting up numerous projects in drugs and pharmaceuticals, engineering, hotels, hospitals and cement plants,

Industry secretary 1.S.Bindratold PTI that the state government would offer assistance to NRIS in the form of equity, term loans, conditional loans returnable through royalties,

Bindra said NRIs had shown tremendous interest in the state Subsequent to the launching of “Punjab2002″ a vision of Punjab in the 21st century a conference which was held in Chandigarh in December last year and was attended by top NRI’s from all over the world.

A Rs 4.6 million lactose and casein project was being implemented through Cepham milk specialties Ltd, a company promoted in the joint sector by the Punjab State Industrial Development Corporation (PSIDC) and Cepham group of industries in active association with S.S.Sidhu, an NRI from west Germany. Gursaran Singh Sarang, an NRT from U.K, ad joined hands with the PSIDC to put up a copper foils project al an estimated cost of Rs 3.3 million.

Another NRI from ULK. J.S.Khangura, promoter of majestic hotels Ltd, has already initiated steps for developing the first Five Star Hotel in the state at Ludhiana.

Other projects proposed to be set up with government Supper included: Anopen end spinning project at Barnala in Sangrur district by a local entrepreneur, to cost an estimated Rs 4.81 million,

Ultra-Modern hospitals by Dr Raghu Gaind and His associates from U.K. In Ropar district, Development of infrastructural residential facilities by Dr.G.S,Paul, another known NRI.

A locomotive wheel rims project at an estimated cost of Rs 50 million,

And an’ LPG bottling plant by B.R.Parmar, another NRI.

The state government has signed agreements with Gujarat Ambuja cements Lid and associated cement company (ACC) for setting up projects at Ropar and Bhatinda for the manufacture of Portland Pozzolona cement using fly ash.

Bindra said the PSIDC’s tum over for 199394 was likely to touch Rs 9 million as against the previous year’s figure of Rs 5.2 million.

About 25 new projects were likely to be commissioned during the year involving a capital outlay of Rs 26.1 million with an employment potential fora workforce of 3,724.

Various other projects for the manufacture of pharmaceutical products, paper, sugar, milk products and chemicals are likely to be commissioned or taken up for construction during the year, Bindra added.

Article extracted from this publication >>  July 9, 1993