Aditya Birla Group invests around Rs 1,500 crore in Punjab, Real Estate News, ET RealEstate

CHANDIGARH: Punjab Chief Minister Amarinder Singh on Friday praised the Aditya Birla group for investing around Rs 1,000 crore in its recent foray into the paints segment and an additional Rs 500 crore in setting up a cement unit in Rajpura.

Speaking on the occasion after delivering a land allocation letter for 61 acres of land at a cost of Rs 147 crore in the newly developed Hi-Tech Valley Ludhiana, the Chief Minister said this investment would further act as a catalyst to stimulate industrial activity in the Region.

He also mentioned that the Punjab provides a pleasant climate for potential entrepreneurs and industrialists due to a peaceful workforce coupled with a robust infrastructure in terms of excellent road, rail and air connectivity.

He said the Punjab, due to its investor-friendly industrial policy and lucrative incentives, has now become the country’s most preferred investment destination. ‘Invest Punjab’ as a one-stop-shop has transparently facilitated the collection of massive investments worth Rs 91,000 crore in over 2,900 project proposals received over the past four years, official statement says here.

Of these investments, nearly 50% have already started commercial production and the state has been able to attract such significant investments even at the height of the COVID-19 pandemic.

Expressing his gratitude to the Chief Minister, Aditya Birla Group Chairman Kumar Mangalam Birla, who joined the meeting virtually from Mumbai, affirmed his faith in the Punjab’s industrial ecosystem, forward-looking industrial policies and a non-intrusive government interface.

He praised the speed at which the government of Punjab acted to attract this investment to the state and also appreciated the facilitation provided by the state at every step.

Birla further informed the Chief Minister that the upcoming paint manufacturing unit is likely to generate direct employment of over 600 people and around 1,500 potential indirect jobs through its operations.

He said that this future plant would be equipped with the best safety and environmental protection systems without liquid discharge. Looking forward to continued support to set up more such ventures in the near future, he said Punjab was now on their priority list.

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