Tata Group plans investment in Punjab If everything goes well, Punjab may achieve a major breakthrough in Industrialization, Urban Development, Power infrastructure development with nine leading companies of TATA Group promising to make massive investment in the state after working out the ‘details and economics’ of various projects short listed after marathon discussions with Punjab Deputy Chief Minister Sukhbir Singh Badal. The nine TATA Group Companies were represented by senior officials. Ravikant, Vice Chairman TATA Motors while initiating the discussion said that it is for the first time that all TATA Group companies have collectively come to a state to have discussion with a state government in contrast to earlier practice of individual companies having deliberations with states. The group leader Ravikant said that, “We have plate full of projects and now it is our responsibility to work out details and economics of each project to put these projects in implementation mode.” He said that we will get back to Punjab Government after finalizing the details within one month. Seeking the cooperation of TCS in making Punjab offices paperless, Badal said that after making Punjab Secretariat paperless by December this year, they should draw up a project for whole state. The TATA Group Companies evinced great interest to set up TATA Skill University in the state besides investing eco-city and medi-city in new Chandigarh. They also evinced great interests in ambitious projects like ‘Downtown Mohali’ and ‘Downtown Ludhiana’ and city center Mohali. The TATA Group also expressed their desire to setup series of budget hotels in different cities of Punjab besides making a major foray in group housing sector. Ashish Mathur, MD JUSCO said that their company after successful implementation of City Services Project in Mysore and Kolkata, could work out modalities for two three big cities of Punjab after detailed study of these cities. He said that TATA with great experience in BRTS system could present a model to tackle the traffic problems of Ludhiana and other big cities. Mr. Badal asked TATA to study BRTS model of Istanbul and replicate the same in Ludhiana. Earlier, inviting TATA group to become partner in the progress of the state, Sukhbir Singh Badal said that Punjab has come out with a one of its own kind of industrial policy, which offers incentives to the investors as per their efficiency and productivity. He said that the new VAT and CST retention model, one of its own kinds, in the country would allow the upcoming companies to retain up to 80% VAT and CST collected by them rather than to look towards government for reimbursement. Badal inviting TATA Group companies for infrastructure development projects called them to invest in holistic development of one or two cities to be mutually worked out for ensuring 100% water, sewerage connectivity, power distribution, road development, solid waste management, street lighting with 24X7 help desks. Badal said that he has chalked out a multi thousand crores plan to be completed in next two years for holistic development of 147 cities that offered mega investment opportunities for TATA group stakeholders. He said that TATA motors can also work out a BRTS system for metro cities of Ludhiana, Jalandhar, Amritsar and Bathinda besides helping the state in the Solar City Project.
Posted on: Thu, 18 Jul 2013 17:19:29 +0000
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