Punjab gets over Rs 1,000-crore FDI proposals; land purchased

Vijay C Roy
Tribune News Service
Chandigarh, February 24

Despite the Covid-19 pandemic, Punjab has managed to attract global companies from the US, UK, Canada and France across diverse sectors, such as sports infrastructure, real estate, IT, pharmaceuticals and industrial gases.

The state received over Rs 1,000-crore FDI proposals during April 2020 — January 2021. The companies have already procured land and submitted the detail project report (DPR) to the government, according to Rajat Aggarwal, CEO, Invest Punjab.

RoundGlass Well Being (P) Ltd, a subsidiary of US-based RoundGlass LLC, has submitted a proposal for investing Rs 455.32 crore on the state-of-the-art sports infrastructure in Mohali. It will offer players access to an international-level sports ecosystem through a team of certified coaches along with world-class technical staff, nutritional, educational, medical and training facilities.

Vadhera Apartments (P) Ltd plans to invest Rs 270 crore in a real estate project in Ludhiana in collaboration with Malhotra Group’s Newcastle Upon Tyne (UK). Also, Smarter e-Learning Pvt. Ltd, a subsidiary of New York-based Netsmartz LLC, a software development company, will invest Rs 151.78 crore in Mohali’s IT sector.

Centrient Pharmaceuticals India Pvt Ltd, a subsidiary of US-based Centrient Pharmaceuticals, proposes to invest Rs 135 crore in a pharma unit in Shaheed Bhagat Singh Nagar.

Further, NCML Jalalabad (P) Ltd is to set up a 50,000 MT-capacity silo for storing foodgrain at Fazilka.

Similarly, subsidiary of French Multinational Company Air Liquide North India (P) Ltd is setting up a unit in Patiala for Industrial gases at a cost of about Rs 20 crore. “ Despite slowdown, we have won investors’ trust,” observed Aggarwal.

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