Punjab Chief Minister Captain Amarinder Singh on Friday welcomed the Aditya Birla Group for making huge investment of around Rs.1000 crores in its recent foray into paint and another Rs. 500 crores in setting up a cement unit at Rajpura.
Chandigarh: Punjab Chief Minister Captain Amarinder Singh on Friday welcomed the Aditya Birla Group for making huge investment of around Rs.1000 crores in its recent foray into paint and another Rs. 500 crores in setting up a cement unit at Rajpura.
Speaking on the occasion after handing over land allotment letter for 61 acres land at a cost of Rs.147 crore in the recently developed Hi-Tech Valley Ludhiana, the Chief Minister said this investment would further act as a catalyst to boost industrial activity in the region.
He also mentioned that Punjab offers a congenial climate to the prospective entrepreneurs and industrialists due to peaceful labour coupled with robust infrastructure in terms of excellent road, rail and air connectivity.
He also said that Punjab has been ranked 2nd in the ease of logistics in the country and would be soon connected to both the eastern & western freight corridors.
Pointing out further, the Chief Minister said that Punjab due to its pro-investor industrial policy and lucrative incentives has now emerged as the most preferred investment destination in the country as ‘Invest Punjab’ being one stop shop has seamlessly facilitated in garnering massive investments worth Rs.91,000 crores in over 2900 project proposals received during last four years.
Out of these massive investments, nearly 50% have already started commercial production and the state has been able to attract such meaningful investments even during the peak of Covid-19 pandemic. He also referred to massive employment generation plan through which nearly 17.63 lakh youth have been facilitated gainful employment in government, private and self-employment ventures.
The Punjab Chief Minister further termed these huge investments as a reflection of the various transformative initiatives including series of policy, process and business reforms that have been undertaken by the Punjab government in the recent past.
Expressing gratitude to the Punjab Chief Minister, Aditya Birla Group Chairman Kumar Mangalam Birla, who joined the meeting virtually from Mumbai affirmed faith in Punjab’s industrial eco system, forward looking industrial policies and a non-intrusive government interface.
He lauded the speed at which Punjab government moved to attract this investment to the state and also appreciated the facilitation provided by the state at every step.
Birla further apprised the Punjab Chief Minister that the upcoming paint manufacturing unit is likely to generate a direct employment of over 600 persons and around 1500 indirect job potential through its operations.
He said that this upcoming plant would have best in class safety and environment protection systems having zero liquid discharge. Looking forward for continued support to set up more such ventures in near future, he said Punjab is now on their priority list.
Meanwhile, his son Aryaman Birla also marked his presence through video conferencing while the delegation headed by Himanshu Kapania, Non-executive Director & Vice Chairman, Aditya Birla Fashion and Retail Ltd and Director Telecom, received the allotment letter from the Punjab Chief Minister in person.
Notably, this large manufacturing unit would also give a fillip to the value-chain of allied sectors such as Packaging Industry, Tin and Plastic Can manufacturing, Mobility etc. in the region. Aditya Birla’s upcoming plant would deploy the latest manufacturing technology.
The plant will be controlled through the advanced technology of DCS/PLC. Automation would be deployed to manage the raw material, production material and finished goods' warehouses within the plant. The plant would also deploy Industry 4.0 based tools and Internet of Things (IoT) in its manufacturing operations.
Taking part in the deliberations, CEO Invest Punjab Rajat Aggarwal said that the State's investment promotion agency 'INVEST PUNJAB' has been recently rated as the 'Top Performer Agency' by the Government of India. The Hi-Tech Valley of Ludhiana has proved to be a magnet for attracting new investments in the area.
The high quality 'Plug and Play' infrastructure developed in record time has provided an option to the industries to start their operations quickly in the industrial capital of the state. Hero Cycles Limited has already set up their anchor unit in the Valley with a production capacity of 4 million bicycles per annum especially e-bikes and premium bikes in the unit.
Many new investors have shown keen interest to invest in this well-developed industrial park. The Aditya Birla Group is also looking forward to start construction for its proposed plant at the earliest, added Aggarwal.
Notably, the global conglomerate Aditya Birla Group, a Fortune 500 company, has chosen Punjab as an investment destination in North India for its upcoming paints business venture through its flagship company Grasim Industries Ltd.
The event was attended by senior officers including Chief Secretary Vini Mahajan, Principal Secretary Investment Promotion Alok Shekhar, Managing Director Punjab Small Industries & Export Corporation Neelima among others.