Videocon to invest Rs 100-500 cr on Punjab SEZ
Videocon Industries announces its decision to set up a multi-product special economic zone spread over an area of 1,000 hectares in Punjab.
By PTI |
CHANDIGARH: Consumer electronics major Videocon Industries on Sunday announced its decision to set up a multi-product special economic zone spread over an area of 1,000 hectares in Punjab with an investment of Rs 100-Rs 500 crore.
"We will be developing a 1,000 hectares SEZ in the field of agriculture as well as electronics and hardware sectors in Punjab which will involve an investment of over Rs 100 to Rs 500 crore," Videocon Industries Chairman and Managing Director, VN Dhoot told reporters here on Sunday.
Dhoot is expected to meet Punjab Chief Minister Parkash Singh Badal in this regard.
The company will acquire land for this purpose on its own rather than asking the state government, he said.
Videocon Group is also looking for a suitable location for to set up a semi-conductor unit in the country.
"We are scouting for the land for the setting up a semi- conductor unit but the location has not been finalised yet," he said.
The company, which proposes to invest over Rs 1,000 crore on semi-conductor unit, is also looking for some incentive from government for this unit.
"We will be setting up this unit in that state which will offer us land and power at reasonable rates. In addition to it, the government should also provide us enough water for our semi conductor unit," he said.
However, he dismissed reports that the company was setting this semi conductor unit in West Bengal.
"We will be developing a 1,000 hectares SEZ in the field of agriculture as well as electronics and hardware sectors in Punjab which will involve an investment of over Rs 100 to Rs 500 crore," Videocon Industries Chairman and Managing Director, VN Dhoot told reporters here on Sunday.
Dhoot is expected to meet Punjab Chief Minister Parkash Singh Badal in this regard.
The company will acquire land for this purpose on its own rather than asking the state government, he said.
Videocon Group is also looking for a suitable location for to set up a semi-conductor unit in the country.
"We are scouting for the land for the setting up a semi- conductor unit but the location has not been finalised yet," he said.
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The company, which proposes to invest over Rs 1,000 crore on semi-conductor unit, is also looking for some incentive from government for this unit.
"We will be setting up this unit in that state which will offer us land and power at reasonable rates. In addition to it, the government should also provide us enough water for our semi conductor unit," he said.
However, he dismissed reports that the company was setting this semi conductor unit in West Bengal.
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