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Foreign cos interested in setting up units in Punjab: Govt

Press Trust of India  |  New Delhi 

Various foreign companies, including those from Russia, and UAE, have evinced interest in setting up business units in Punjab, a spokesman of the claimed today.

The companies have shown interest in diverse areas like defence and metro railway, he said.

A Sberbank representative, on behalf of Energo Group Company LLC, Chief Minister with a proposal for waste-to-energy projects in the state, offering turnkey solutions for renewable energy projects, a statement claimed.

Its head of corporate banking, Vigen Sogomonyan, said the Russian company Energo had done extensive research in and seeing the state's agriculture potential, would like to explore opportunities for setting up a waste-to-energy technological plant in within the 'Make in India' framework.

The plant, according to the company, would create energy from raw material such as animal dung, agriculture waste etc.

Sberbank conveyed to the Chief Minister that a Russian helicopter manufacturing company was interested in setting up a facility in

The chief minister said his was willing to offer the necessary land and suggested that the company make a formal presentation to the state in this regard, said the spokesperson.

Several other companies were also interested in establishing defence manufacturing units in Punjab, Sogomonyan claimed.

Kartik Chopra, managing director of the Great Eagle Group, also attended the meeting and told the chief minister of Beijing's interest in launching a metro project in Ludhiana.

Amarinder said he was willing to explore the possibility after going through the details and asked the delegation to put the company officials in touch with his government.

Chopra also proposed food processing units for exports to the UAE, to which the chief minister responded positively, according to the spokesperson.

Punjab Finance Minister Manpreet Badal and other senior officials of the finance department were present in the meeting.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 08 2017. 22:28 IST