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10 MoUs involving Rs 2600 crore investment signed

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Times of India
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As curtains drew on the four-day Progressive Punjab Agricultural Summit at Chappar Chiri, Punjab government claimed to have firmed up investments worth Rs 2,600 crore with 10 memoranda of understanding (MoUs) signed for collaborations in agriculture, food processing and bio-mass renewable energy.

Chief minister Prakash Singh Badal was joined by industrialists like director, ITC, Kursh Grant, CMD Bharti Agro, Rakesh Bharti Mittal, vice-president of Vardhman group, Kamal Oswal, CMD of Trident Group, Rajinder Gupta and CEO of KPMG, Richard Rekhi at the valedictory function.

An MoU for setting up a "centre of potato expertise in Punjab" was signed with Netherlands government by Punjab Agriculture University and Confederation of Potato Seeds Farmers.

Another MoU was signed between P&R Agri Energy Pvt Ltd and Punjab government to establish a 20MW biomass power project with an investment of Rs 125 crore. Another MoU between Nextgen Solux Power Pvt Ltd and Punjab government to set up 100MW solar power project at Faridkot and Abohar with an investment of Rs 800 crore was also signed.

Likewise, an MoU was inked between Sampuran Agri Ventures Pvt Ltd and Punjab government to set up 30MW rice straw-based biomethanation power projects at a cost of Rs 400 crore.

An agreement to set up nine projects for production of bio-ethanol from rice straw and other agriculture waste and molasses at a cost of Rs 900 crore was inked between Bio Echo Energy Pvt Ltd and Punjab government.

Another MoU was signed between MD Group and Punjab government as an innovative initiative to solve the wheat and rice waste problem on a sustainable economic model. An MoU was signed between Mrs Bector Food Specialties Ltd and Punjab government in food processing involving an investment of Rs 100 crore.

A spokesperson claimed that out of the 128 MoUs inked at the summit held in December 2014, 62 MoUs with an investment of Rs 12,000 crore were signed between key players in the field of agro and food processing. "With the signing of 10 new MoUs worth Rs 2,600 crore on Wednesday, the total number of MoUs in the agro and food processing has gone up to 72 with a total investment of Rs 14,600 crore," he said.

The MoUs were signed by financial commissioner development, Suresh Kumar, on behalf of the state government.

Author: Sustainability Outlook