Spain-based Congelados De Navarra is all set to make a Rs 300-crore investment in Punjab for the establishment of a food processing unit in Ludhiana’s Machhiwara area. The final modalities were worked out with their representatives at a meeting with Chief Minister Capt Amarinder Singh here on Wednesday.
The company later signed an MoU with Punjab Bureau of Industrial Promotion (PBIP) for the project, which has been facilitated by IFFCO (Indian Farmers Fertilizer Cooperative) under the Invest Punjab scheme, according to an official spokesperson.
A delegation comprising the company’s Director General Berito Jimmez and Consultant Inigo Soto, along with IFFCO chairman BS Nakai and MD US Awasthi, met the Chief Minister to finalise land for the project, which will reportedly generate employment for 400 and indirect jobs for 5,000 people in the state. The company, along with IFFCO, had earlier shortlisted two land parcels for the project.
The Chief Minister has directed PBIP to facilitate in processing the CLU expeditiously to enable the project to start at the earliest. The PBIP shall also facilitate in providing water linkage. Power is already available in the area and the necessary supply will be laid by the PSPCL at the investor’s own cost.