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Rs. 12, 370-Crore Investment for Punjab

By: property, Mon Jun 5th, 2006 07:33:41 PM

Punjab Real Estate: On a Roll!

Only yesterday, the Punjab government approved 43-new mega projects for 27-industrial and 16-housing and township projects, with an investment of Rs. 12,370.38-crore, projects that are expected to generate potential employment for 29,000-people. Informing the media, a Punjab government spokesperson declared, the Empowered Committee under the chairmanship of Chief Minister Amarinder Singh had set their seal of approval on Reliance One World Ltd.’s mega world class special economic zone (SEZ) project, which will be spread over more than 5,000-acres and will receive a direct investment in excess of Rs. 5,000-crore. A multi-product SEZ, the Reliance SEZ will explore Punjab’s manifold products, including food processing, agriculture. auto engineering, garments and apparel production. It seems Apna Punjab is the Ambani brothers preferred destination of choice!

The next project that has gained the committee’s approval is that of Class India Limited, the 100% subsidiary of Class KGA MbH Germany. Its German parent is expected to set up a Greenfield facility either in the Reliance SEZ or on the Kharar-Morinda-Ludhiana road or its adjoining area, with the express purpose of manufacturing combined harvesters and agricultural machinery components for global sourcing. Spread over 10-hectares of land at a total cost of Rs. 112.24-crore, the project is expected to provide direct employment to 200 to 300-people.

Two industrial parks, six multiplex projects, eight hotel projects were also approved at the committee meeting. Out of 16-mega Housing &amp; Township projects, nine are in Mohali, with three each for Amritsar and Patiala and one for Ludhiana. As well, 203-mega projects with a total investment of Rs. 73, 052.38-crore had already been approved at earlier meetings for Ludhiana, Amritsar, Jullunder, Bathinda, Ropar, Mohali, Patiala, Hoshiarpur, Fatehgarh Sahib, Ferozepur, Gurdaspur, Moga, Kapurthala and Sangrur, all of which are presently under various stages of implementation.

While, the good news is that Amarinder Singh has been triumphant in his attempt to attract investments for his home state by successfully selling it as a viable destination, it remains to be seen, whether the Punjab government will be able to provide the expected land, especially 5000-acres for Reliance’s SEZ. One can only hope the government knows what it is doing, and is not trying to outshine other states at the cost of its agricultural base. If, Apna Punjab is transformed into an industrial hub, who is to be the bread basket of the nation?

And, for that matter, it is hard to visualise Punjabi Jats busy churning out products in factories. It is far easier to bring to mind a picture of tall, strapping Punjabi youth hard at work in fields of shimmering wheat and golden sarson. While, that may be so, if industrialisation brings to an end the suicidal spree of indebt Punjabi farmers, offer employment to idle Punjabi youth on a constant high of drugs / alcohol and prevent the Pride of Apna Punjab fleeing to foreign lands, just because everyone is gainfully employed, thanx to mega investments in the state, then who can point the finger of blame at Amarinder Singh’s Empowered Committee for the selling out of Apna Punjab.

A dual edged sword, on the one hand, these mega projects are going to ripping apart the heart of Punjab, its agricultural fields that epitomise a true blue Punjab da Jat. On the other, it will put an end to unemployment in the state, preventing drug / alcohol addiction, suicidal frames of mind and the reckless placing of precious lives in the hands of unscrupulous travel agents promising a better life in Desh Pardes!

If Amarinder Singh and his cohorts can industrialise Punjab by keeping its heart alive i.e. its agricultural fields, then they are to be commended most heartily for their efforts in making Punjab, a preferred investment choice! What this also means is Punjab real estate will witness a boom to rival that in Mumbai, Bangalore, Delhi, NCR or elsewhere. Punjabi real estate is on a juggernaut of a roll; already there are many poor farmers who sold their land only to become overnight crorepatis! Roll over Beethoven and tell the world the news! Roll over Beethoven its time for some Punjabi Bhangra beats!

For more information on Real Estate, Please Visit http://www.indiarealestateblog.com/ and http://www.propertyvertical.com/

Source: Economic Times

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