Punjab is all set to embrace economical boost due to upcoming big Industrial projects in Mattewada & Rajpura
To strengthen the state’s economy, the Punjab cabinet gave a green signal to two modern Industrial Parks and an integrated manufacturing cluster. These projects will be set up over 2,000 acres on Government and Panchayati land in Rajpura (Patiala) near Mattewada (Ludhiana). The total cost that will be spent to build these revolutionary industrial setups is a whopping sum of Rs 3,200 Crore.
The main goal behind settling up these two projects is to accelerate the pace of industrialization and creating sufficient job opportunities for the youth. This information is given by Punjab’s Chief Minister Captain Amarinder Singh at video conferencing meeting with the state’s news professionals.
Both the projects will be set up at an expense of Rs 1,600 Crore each, and the area allotted for both projects is 1,000 acres each. These upcoming industrial projects will prove to be boon for the industry and cater to the budding entrepreneurs/industrialists’ needs for settling up new ventures. These economic hubs will bring a spectacular rise not only in the economy but also boost the enthusiasm in the business sector that has seen a massive fall in the lockdown period for several months.
The Panchayati land for these projects will be purchased by the Department of Housing and Urban Development to develop mixed land for use, industrial park, integrated production cluster (IMC).
As per the local newspaper, the Mattewada venture had been conceived and pursued by the industrial department, and the land of government divisions would be taken over by the urban and housing development office under the ideal utilization of Vacant Government Land Scheme (OUVGL). The site land had been active consideration by the state government for several years and now it is being envisioned and pursued by the industrial department. Considering the financing capabilities of housing and urban development and by figuring out their pace to execute the project, the same was moved to it.
The CM has now taken up all the responsibility to review and bring the financial condition of Punjab on track after the loss of 21% of revenue during the COVID-19 lockdown. This information was given by Finance Minister Manpreet Badal.
By Neha Rampal
