Shanghai investors give thumbs up to Punjab investment drive

Shanghai : Chinese investors today expressed faith in the Punjab investment story with the State attracting a committed investment of 50 million dollars as well as potential investment of several hundred million during the Investment Meet held here in collaboration with the Confederation of Indian Industries.
As many as 114 Chinese investors participated in the Investment Meet which also witnessed an announcement by Deputy chief minister Sukhbir Singh Badal to establish a Punjab Invest Office in Shanghai. This office will take care of potential investment from China, Taiwan, Hong Kong and South Korea.
An agreement of cooperation was also reached between Chengdu Chongzhou Investment Promotion Centre represented by its Party Secretary Xu Jian and Punjab represented by Mr Sukhbir Badal. Ms Jian confirmed to visit Punjab along with a business delegation in October to study ways and means to invest in Punjab. Mr Badal proposed that a Punjab – China summit be held in October- November to facilitate Chengdu investors as well other investors from China. Chinese investors welcomed this proposal and urged that business to business meetings be held during the proposed summit to fast track investment into Punjab.
Meanwhile in a big success the Yiwu Om Sal company led by Leo Lee pledged to invest 50 million dollars to manufacture high quality synthetic blankets. The company has decided to take up 33 acres of land at Goindwal Sahib and will employ 2,000 workers. It is likely to finish the process of land takeover within two months.
Other investors meeting the Deputy CM today included Kevin of Zhongoai Merchants Investment group which is the number one company in the PVC sphere in China. It’s representatives said the company was eager to invest in agriculture, irrigation and water supply in Punjab. Another major company MD Qu Wui of Anhoi Tiankang special vehicle equipment group which deals in LED, electric bikes and e-cycles said his company was keen to set up shop in Punjab. The Deputy chief minister suggested the company could be part of the E- Cycle Valley at Ludhiana.Another major investment included a proposal to set up plastic silos in which grain can be stored by pumping it in. Mr Badal said the State was ready to do a cost benefit analysis of this project as well as put up a pilot project to test this new technology.Earlier the Deputy CM made a power point presentation to the Chinese investors. He said investors putting in money in Punjab would not only have access to North India but also Pakistan and Central Asia. He said Punjab was offering the cheapest power for new industries at Rs five per unit. Mr Badal said Punjab was also well connected with two international airports. He offered to provide pre cleared sites along with environment clearances to industrialists.Additional CS of Department of Investment Promotion Karan Avtar Singh told investors that the State was coming out with a Mandarin interactive website. He said investors could also get facility of clearances sitting in Shanghai itself after approaching the new Punjab Invest office. “We will give all clearances within 30 days and provide you with a dedicated relationship manager also”, he added.