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Sunday, December 15, 2019

Punjab govt to offer five land banks of 683.8 acres to woo investors

For the first time the state government is trying to woo the investors with land banks which were created in the last few years to provide land for the companies coming to Punjab for investment.

Written by Jagdeep Singh Deep | Mohali | Published: November 19, 2019 7:44:02 am
Progressive Punjab Investors Summit, punjab investors, chandigarh, chandigarh news, latest news Punjab Chief Minister Capt Amarinder Singh (File/Express Photo by Kamleshwar Singh)

THE STATE government is making all-out efforts to woo investors during the Progressive Punjab Investors Summit 2019, which is scheduled to be held on December 5 and 6 in Mohali.

For the first time the state government is trying to woo the investors with land banks which were created in the last few years to provide land for the companies coming to Punjab for investment.

In Mohali, the government is offering five land banks with a total of 683.85 acres of land in the district. With the creation of the land banks, the government is ready to offer the land directly to the interested investors which would save the process of land acquisition.

“Earlier, whenever the investors would come, they had to wait for setting up industrial hubs. The government had planned around two years ago to create land banks to meet the demands of the investors. It will be for the first time that the companies will get this facility,” an officer working on the project told Chandigarh Newsline.

The officer told Newsline that five land banks at Tangori (462 acre), Sundran (23 acre), Chao Majra, Chilla, Raipur Khurd and Mauli Baidwan

(84.91 acre), Radiala (44.95 acre) and Dairi (69 acre) are ready and are located near the IT city and airport road.
The Bio-Technology Park will be set up at around 84.1-acre land which is located at Chao Majra, Chilla, Raipur Khurd and Mauli Baidwan villages.

The Mohali Industrialists Association (MIA) is happy with the government’s decision as it could revive the dying industry in the district and could attract bigger companies.

MIA president Yogesh Sagar told Newsline that it was for the first time that the companies would get ‘ready to move in’ facilities as the government has completed the formalities of land acquisition and created the land banks.

“Punjab has only land to offer to the investors. It is a good move. If the land is provided at reasonable rate, it will definitely help the small industries as well,” he said.

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