Aditya Birla Group invests around Rs 1,500 crore in Punjab

CHANDIGARH: Punjab Chief Minister Amarinder Singh on Friday welcomed the Aditya Birla Group for making an investment of around Rs 1,000 crore in its recent foray into the paints segment and another Rs 500 crore in setting up a cement unit at Rajpura.

Speaking on the occasion after handing over a land allotment letter for 61 acres land at a cost of Rs 147 crore in the recently developed Hi-Tech Valley Ludhiana, the chief minister said this investment would further act as a catalyst to boost industrial activity in the region.

He also mentioned Punjab offers a congenial climate to the prospective entrepreneurs and industrialists due to peaceful labour coupled with robust infrastructure in terms of excellent road, rail and air connectivity.

He said Punjab due to its pro-investor industrial policy and lucrative incentives has now emerged as the most-preferred investment destination in the country. ‘Invest Punjab’ being one-stop shop has seamlessly facilitated in garnering massive investments worth Rs 91,000 crore in over 2,900 project proposals received during the past four years, as per an official statement here.

Out of these investments, nearly 50 per cent have already started commercial production and the state has been able to attract such meaningful investments even during the peak of the COVID-19 pandemic.

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

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

Birla further apprised the chief minister that the upcoming paint manufacturing unit is likely to generate a direct employment of over 600 persons and around 1,500 indirect job potential through its operations.

He said this upcoming plant would have best-in-class safety and environment protection systems having zero liquid discharge. Looking forward for continued support to set up more such ventures in near future, he said Punjab is now on their priority list.