Tata Steel to set up second largest plant in India in Punjab, CM Bhagwant Mann lays foundation

Punjab Chief Minister Bhagwant Singh Mann said on Friday that the massive investment made by the prestigious Tata group in the state will herald a new era of industrial development in the state.

The Chief Minister, while addressing the gathering after performing the groundbreaking ceremony of the Green Steel Plant coming up at a cost of Rs 2,600 crore, said, "Tata is a renowned company across the globe and the huge investment made by it in the state will inspire other companies to follow suit. This is the second-largest plant by the Tata Group in the country after Jamshedpur. This is the company of patriots, who have played a pivotal role in national freedom struggle."

Bhagwant Singh Mann said that besides opening new avenues of employment for the youth, this project will act as a catalyst in giving a fillip to the industrial development of the state.

The Chief Minister said, "This whopping investment is a slap in the face of those forces that defame the state on the law and order front. Such investments come only in peaceful states, and this investment has proved that Punjab is today the most peaceful state in the country."

Bhagwant Singh Mann announced that the state government will construct the road leading to the site of the plant from the National Highway.

Terming that the Memorandum of Understanding (MoU) is obsolete in the state now, the Chief Minister said, "The state government is currently signing MoDS (Memorandum of Dil Se) with the industrialists to give fillip to industrial development in the state. This agreement is totally based on mutual trust and zeal to make Punjab a front-runner state in the industrial sector."

The Chief Minister said, "Punjab is known for its spirit of enterprise, which is bolstered by the warm and welcoming people of the state. He said that this spirit of dynamism has allowed Punjab to become the most preferred investment destination in the country. Bhagwant Singh Mann said that due to strenuous efforts of the state government Punjab is today the first choice for investment of many global giants."

"Due to massive efforts made by the state government, Punjab has so far received investments to the tune of Rs 56,796 crores since mid-March 2022, and generated employment opportunities for 2.98 lakh youth. In recent last 18 months, some of the biggest companies like Tata Steel, Sanathan Textiles, Toppan, and Freudenberg Group are making a beeline to invest in the state." he added.

Bhagwant Singh Mann said that as promised by his government they had taken a path-breaking initiative of organizing the 'Sarkar Sanatkar Milnis' to facilitate the industrialists.

"In February 2023, mini conclaves were hosted in Amritsar, Jalandhar, Ludhiana, Mohali, and Pathankot providing a platform to interact with local industry stakeholders and gather suggestions. To further enhance engagement, a WhatsApp Number and Email was launched for getting the suggestions of industrialists in July 2023. Based on the feedback received during the mini conclaves as well as pursuant to the toll-free helpline, the government formulated policy reforms which were announced during the Sarkar Santkar Milnis.

The Chief Minister said that the state government has taken some unique initiatives like colour-coded stamp paper thereby introducing 'Green Colour Stamp Paper for Registration of Sale Deed along with Inbuilt CLU'. In addition to this, he said that Punjab recently launched Industrial policy 2022 which offers a host of attractive incentives. Bhagwant Singh Mann said that Invest Punjab has emerged as 'Top State Investment Promotion Agency', which serves as the single point of contact for any investor.

"Invest Punjab has been instrumental in providing momentous support in facilitating Tata Steel's entry and other marquee into Punjab. Punjab is among 'Top Achievers' in the Ease of Business Ranking released by the Government of India in June 2022. The state government has also introduced provisions for Deemed Approvals and Auto Renewals of clearances, simplifying the process for businesses.

"Punjab is well-connected to both the Eastern and Western Freight Corridors, with multiple logistics facilities, international and domestic airports, and excellent rail and road connectivity. He said that Punjab has a peaceful labor environment, with no labor unrest faced by any industrial units over three decades. Bhagwant Singh Mann further said that Punjab is one of the safest states with one of the lowest rates of cognizable crime among major industrial states in India.

"Punjab is also home to prestigious educational institutions such as IIT, IIM, ISB, and more which are helping in providing a pool of skilled manpower to the industrialists. He said that investments by Tata Steel, Nestle, Freudenberg, Claas, PepsiCo, Coca-Cola, Cargill and others demonstrate Punjab's commitment to fostering a conducive business environment." Mann said.

Lauding Tata Steel Limited for believing in Punjab and setting up this recycled steel plant, the Chief Minister said that the state is excited about the positive impact of this project on Punjab's economy and the community.

He assured fulsome support and cooperation to Tata Steel Limited in Punjab for times to come. Bhagwant Singh Mann wished a bright future for Tata Steel in the state and described it as the dawn of a new era.

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