Punjab offers 600 pre-cleared sites to foreign investors

Chandigarh, Aug 21 (IANS) The Punjab government on Friday said it is offering 600 pre-cleared sites to foreign investors wanting to set up industrial and business units in the state.

Deputy Chief Minister Sukhbir Singh Badal on Friday met investors and heads of companies from South Korea here and pitched for investment in the state.

“Punjab today offered a plug and play industrial park adjoining the international airport at Mohali exclusively to prospective South Korean investors for setting up their ventures in the state,” he said.

Badal also offered South Korean investors fixed power rates for a 10-year period. He also assured that Punjab would provide the cheapest power among all states in the country, to new investors for which a policy was being firmed up.

“Korean companies should take advantage of the huge incentives being offered by the state government to entrepreneurs. We have 600 pre-cleared sites and these can be offered to Korean investors,” he said in his presentation.

A state government spokesman later said that electronics giant Samsung evinced keen interest in investing in the state.

The Korean delegation was informed about possible investment in sectors like manufacturing, infrastructure, automobiles, IT and consumer electronics sectors.

South Korean Ambassador to India, Joon Gyu Lee said that South Korea was particularly keen to forge business ties, joint ventures, partnerships, mergers and develop other inter-trade mechanisms like appointing dealerships and distributor channels with industrialists from northern India, especially Chandigarh and Punjab region.

Samsung Electronics vice president Kyoung Soo Kim said that the company was keen to invest in biometric technology and also offered to explore electronic production unit in the state.

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