Punjab: MoU inked for setting up 41 steel industrial units in Mandi Gobindgarh at Rs 602 crore

PATIALA: Minister for industry Sunder Sham Arora on Thursday said the state government was going to implement the new industrial policy after getting the same approved from the cabinet in the July 25 meeting.
The minister who was at Mandi Gobindgarh Fatehgarh in the Sahib district of Punjab to ink MoUs worth Rs 602 crore to establish 41 new steel industrial units in this industrial hub said the new policy aimed at giving a fillip to setting up of new industries and reviving the old ones by entailing exemption from GST, property tax, electricity duty and stamp duty.
The minister said the government would create an atmosphere congenial for the industrial development that would go a long way in fulfilling the promise of ‘Ghar Ghar Rozgar’ made by chief minister Captain Amarinder Singh.
He also announced that a new focal point in 133-acre area would come up in Wazirabad near Mandi Gobindgarh and another at Bassi Pathana on 8 acres of land. These focal points will promote industrial clusters and boost micro industries.
He said that the state government has given VAT refund worth Rs 340 crore and GST refund worth Rs 48 crore to the industrialists and provided a subsidy of Rs 1440 crore for power at the rate of Rs 5 per unit to the industrial sector.