CM LAYS FOUNDATION STONE OF TATA STEEL’S SECOND LARGEST PLANT IN COUNTRY

SAYS THE PROJECT TO COME UP AT COST OF RS 2600 CRORE WILL OPEN NEW VISTAS OF EMPLOYMENT FOR YOUTH

HOPES THAT THIS PROJECT WILL INSPIRE OTHER COMPANIES TO MAKE INVESTMENT IN THE STATE

ASSERTS THAT DUE TO MEMORANDUM OF DIL SE WORK ON THIS PRESTIGIOUS PROJECT HAS STARTED WITHIN AN YEAR

Ludhiana, October 20:

Punjab Chief Minister Bhagwant Singh Mann said on Friday that massive investment made by the prestigious Tata group in the state will herald a new era of industrial development and progress in the state.

The Chief Minister, while addressing the gathering after performing the ground breaking ceremony of Green Steel Plant coming up at cost of nearly Rs 2600 crore, said that Tata is a renowned company across the globe and the huge investment made by this prestigious company in the state will inspire other companies to follow suit. He said that this is the second largest plant by Tata group in the country after Jamshedpur adding that this is the company of Patriots who have played a pivotal role in national freedom struggle. Bhagwant Singh Mann said that besides opening new avenues of employment for the youth, this project will act as a catalyst in giving fillip to industrial development of the state.

The Chief Minister said that this whopping investment is a slap on the face of those forces that defame the state on the law and order front. He said that such investments come only in peaceful states adding that this investment has proved that Punjab is today the most peaceful state in the country. Bhagwant Singh Mann announced that the state government will construct the road leading to the site of the plant from the National Highway.

Terming that Memorandum of Understanding (MoU) is obsolete in the state now, the Chief Minister said that the state government is currently signing MoDS (Memorandum of Dil Se) with the industrialists to give fillip to industrial development in the state. He said that MoDS is a sacred agreement directly from heart and is totally based on mutual trust and zeal to make Punjab a front runner state in the industrial sector. Bhagwant Singh Mann as a result of this only the work on such a massive plant has started within an year of its announcement.

The Chief Minister said that Punjab is known for its spirit of enterprise, which is bolstered by the warm and welcoming people of the state. He said that this spirit of dynamism has allowed Punjab to become the most preferred investment destination in the country. Bhagwant Singh Mann said that due to strenuous efforts of the state government Punjab is today the first choice for investment of many global giants.

The Chief Minister said that due to massive efforts made by the state government, Punjab has so far received investments to the tune of Rs 56,796 crores since mid-March 2022, and generated employment opportunities for 2.98 lakh youth. He said that during the last 18 months some of the biggest companies like Tata Steel, Sanathan Textiles, Toppan, and Freudenberg Group are making a beeline to invest in the state. Bhagwant Singh Mann said that as promised by his government they had taken a path breaking initiative of organizing the ‘Sarkar Sanatkar Milnis’ to facilitate the industrialists.

The Chief Minister said that in February 2023, mini conclaves were hosted in Amritsar, Jalandhar, Ludhiana, Mohali, and Pathankot providing a platform to interact with local industry stakeholders and gather suggestions. He said that to further enhance engagement, a WhatsApp Number and Email was launched for getting the suggestions of industrialists in July 2023. Bhagwant Singh Mann said that based on the feedback received during the mini conclaves as well as pursuant to the toll-free helpline, the government formulated policy reforms which were announced during the Sarkar Santkar Milnis.

The Chief Minister said that the state government has taken some unique initiatives like colour-coded stamp paper thereby introducing ‘Green Colour Stamp Paper for Registration of Sale Deed along with Inbuilt CLU’. In addition to this, he said that Punjab recently launched Industrial policy 2022 which offers a host of attractive incentives. Bhagwant Singh Mann said that Invest Punjab has emerged as ‘Top State Investment Promotion Agency’, which serves as the single point of contact for any investor.

The Chief Minister said that Invest Punjab has been instrumental in providing momentous support in facilitating Tata Steel’s entry and other marquee into Punjab. He said that Punjab is among ‘Top Achievers’ in the Ease of Business Ranking released by the Government of India in June 2022. Bhagwant Singh Mann said that the state government has also introduced provisions for Deemed Approvals and Auto Renewals of clearances, simplifying the process for businesses.

The Chief Minister said that Punjab is well-connected to both the Eastern and Western Freight Corridors, with multiple logistics facilities, international and domestic airports, and excellent rail and road connectivity. He said that Punjab has a peaceful labor environment, with no labor unrest faced by any industrial units over three decades. Bhagwant Singh Mann further said that Punjab is one of the safest states with one of the lowest rates of cognizable crime among major industrial states in India.

The Chief Minister also said that Punjab is also home to prestigious educational institutions such as IIT, IIM, ISB, and more which are helping in providing a pool of skilled manpower to the industrialists. He said that investments by Tata Steel, Nestle, Freudenberg, Claas, PepsiCo, Coca Cola, Cargill and others demonstrate Punjab’s commitment to fostering a conducive business environment. Bhagwant Singh Mann said that Punjab is also the preferred investment destination for international companies looking to launch in India or expand their footprint in the country.

Lauding the Tata Steel Limited for believing in Punjab and setting up this recycled steel plant, the Chief Minister said that the state is excited about the positive impact of this project on Punjab’s economy and the community. He assured fulsome support and cooperation to Tata Steel Limited in Punjab for times to come. Bhagwant Singh Mann wished a bright future for Tata Steel in the state and described it as the dawn of a new era.