Tata group to invest in industry, power and urban development sector in Punjab

Chandigarh/July 18
Tata group on Thursday announced to invest in industries, urban development and power infrastructure sector through its nine leading companies after discussions with Punjab’s Deputy Chief Minister Sukhbir Singh Badal.
Tata Motors Vice Chairman Ravikant said that it is for the first time that all Tata Group companies have collectively come to a State to have discussion with a state government in contrast to earlier practice of individual companies having deliberations with states.
“This was possible because new chairman of Tata Group Cyrus Mistry was impressed with the Statesmanship and mature leadership qualities of Punjab Chief Minister Parkash Singh Badal and also shared the vision of Sukhbir Singh Badal of holistic and futuristic development rather than handling ‘nuts and bolts’,” Ravikant said.
Sukhbir Badal invited Tata group to become partner in the progress of the state and said that Punjab has come out with a one of its own kind of industrial policy which offers incentives to the investors as per their efficiency and productivity.
“The new VAT and CST retention model, one of its own kinds, in the country would allow the upcoming companies to retain up to 80 percent VAT and CST collected by them rather than to look towards government for reimbursement,” Sukhbir said, while urging Tata Group companies for infrastructure development projects for holistic development of one or two cities to be mutually worked out for ensuring 100 percent water, sewerage connectivity, power distribution, road development, solid waste management, street lighting with 24X7 help desks.
Badal said that he has chalked out a multi thousand crores plan to be completed in next two years for holistic development of 147 cities that offered mega investment opportunities for Tata group stakeholders.
“TATA motors can also work out a BRTS system for metro cities of Ludhiana, Jalandhar, Amritsar and Bathinda besides helping the state in the Solar City Project,” Sukhbir Badal said.
He further asked the group to invest in power transmission and power audit sector and said that Punjab would be the first state to be Power surplus by December this year and with quality infrastructure, best air and road connectivity due to which the state will be the best bet for Tata’s for making future investments.
Meanwhile, the Tata group companies also evinced their great interest in City Level Services, BRTS Projects, Ropar-Phagwara Expressway, Water City Ludhiana and other infrastructure projects of Rs 500 crore and above IT Campus with high rise concept at Mohali, Solar City Complex, Roof Top Solar Projects, Power Projects, Housing Projects, Downtown at Mohali and Ludhiana renewable energy sector including Biomass and Mini hydels.
Ashish Mathur, MD JUSCO said that their company after successful implementation of City Services Project in Mysore and Kolkata, could work out modalities for two three big cities of Punjab after detailed study of these cities. He said that TATA with great experience in BRTS system could present a model to tackle the traffic problems of Ludhiana and other big cities. Mr. Badal asked TATA to study BRTS model of Istanbul and replicate the same in Ludhiana.
Seeking the cooperation of TCS in making Punjab offices paperless, Badal said that after making Punjab Secretariat paperless by December this year, they should draw up a project for whole state. The TATA Group Companies evinced great interest to set up TATA Skill University in the state besides investing eco-city and medi-city in new Chandigarh. They also evinced great interests in ambitious projects like ‘Downtown Mohali’ and ‘Downtown Ludhiana’ and city center Mohali. The TATA Group also expressed their desire to setup series of budget hotels in different cities of Punjab besides making a major foray in group housing sector.