Ludhiana district emerges most preferred investment destination in Punjab : The Tribune India

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Ludhiana district emerges most preferred investment destination in Punjab

Attracts 620 projects worth Rs 11K cr, offers 39K jobs in 16 months

Ludhiana district emerges most preferred investment destination in Punjab

Work in progress at Tata Steel Limited’s new upcoming plant in Ludhiana on Monday. Himanshu Mahajan

Tribune News Service

Nitin Jain

Ludhiana, September 25

Ludhiana, popularly known as the Manchester of India and the industrial capital of the state, has emerged as the most preferred destination for investment in the state, the government has confirmed.

The state’s biggest and largest district, in terms of area and population, has attracted a maximum of 620 projects with an investment of Rs 10,667 crore, which will offer employment to 38,645 youths, during the past 16 months of the present regime, officials have said.

Rajya Sabha MP Sanjeev Arora, who reviewed the progress of the new projects here recently, told The Tribune on Monday that as many as 3,420 projects in various sectors with a proposed investment of Rs 50,872 crore had been approved in the state between March 16, 2022, and July 31, 2023, which would offer jobs to 2,86,092 persons in different fields.

He said Ludhiana remained the best preferred investment destination in the state where 620 investors had come up with as many projects worth Rs 10,667 crore with employment opportunities to 38,645 youths. “It comes out to be 18.13 per cent of the total projects, 21 per cent of the total investment and almost 14 per cent of the total employment generation in the state,” he said while mentioning that Ludhiana has topped the state in attracting the maximum number of projects.

While Mohali turned out to be the second most preferred investment destination with 507 projects worth Rs 15,195 crore with 76,095 jobs, Fatehgarh Sahib ranked third in the state by attracting investment of Rs 4,394 crore with 14,894 employment opportunities.

Among other districts, Amritsar had attracted investment of Rs 4,720 crore with 90,245 jobs, Barnala Rs 342 crore investment and 1,506 jobs, Bathinda Rs 1,341 crore investment and 4,304 jobs, Faridkot Rs 161 crore investment and 1,019 jobs, Fazilka Rs 144 crore investment and 708 jobs, Ferozepur Rs 447 crore investment and 2,884 jobs, Gurdaspur Rs 846 crore investment and 1,854 jobs, Hoshiarpur Rs 1,185 crore investment and 3,503 jobs, Jalandhar Rs 2,150 crore investment and 16,070 jobs, Kapurthala Rs 491 crore investment and 1,032 jobs, Muktsar Rs 249 crore investment and 1,594 jobs, Mansa Rs 288 crore investment and 2,278 jobs, Moga Rs 1,026 crore investment and 4,170 jobs, Pathankot Rs 218 crore investment and 1,016 jobs, Patiala Rs 3,565 crore investment and 12,157 jobs, Ropar Rs 1,458 crore investment and 3,808 jobs, Sangrur Rs 738 crore investment and 3,735 jobs, Nawanshahr Rs 761 crore investment and 1,941 jobs, Muktsar Rs 230 crore investment and 1,250 jobs, while Tarn Taran had got projects worth Rs 255 crore investment, which would generate 1,384 jobs.

Divulging the key projects that have come to state since March 16, the Invest Punjab functionaries said the biggest project of Tata Steel Limited (TSL), one of the top global steel companies, had arrived in Ludhiana to set up a new 0.75 MTPA electric arc furnace (EAF)-based steel making shop with rebar mill at an investment of Rs 2,600 crore with jobs to 2,500 persons.

He said Sanathan Polycot would invest Rs 1,600 crore with 2,900 jobs in Fatehgarh Sahib, Horizon Infrastructure and Developers would invest Rs 1,128 crore and Turncoat Realty would come up with a project worth Rs 1,100 crore in Mohali, Nabha Power Limited Rs 641 crore with 500 jobs in Patiala, Max Specialty Films Limited Japan Rs 548 crore with 1,230 jobs in Nawanshahr, Freudenberg Group Germany Rs 339 crore with 1,765 jobs in Ropar, Hindustan Unilever Rs 277 crore with 1,092 jobs in Patiala, Nestle India Rs 214 crore with 937 jobs, and Valence Labs would set up a pharmaceutical unit worth Rs 205 crore in Patiala with jobs to 273 youths.

Investment summit soon: CM

“In a bid to attract more investments and give impetus to the state’s industrial growth, we had held direct interactions with industrialists recently and would hold the next Punjab Investment Summit shortly. We are committed to project the state as the most preferred investment destination among the domestic and global investors,” said CM Bhagwant Mann.

Change is evident: MP

“The change in regime has prepared grounds for investors to come and invest in Punjab. Our government has made a conducive atmosphere for the industry and would continue to strive for the betterment and welfare of industrialists,” said Sanjeev Arora, RS MP.

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