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PUNJAB CM DISCUSSES DOWNSTREAM PETROCHEMICAL PROJECT IN SANGRUR WITH LAKSHMI MITTAL

September 11, 2017 08:30 PM

Captain Amrinder Singh and Mittal also took forward their earlier discussions on setting up ancillary industries with investment ranging from Rs. 1 crore to Rs. 200 crore, as a joint private-public initiative, in Bathinda, thus giving a boost to the industrial development of the region.

London/Chandigarh (Face2News)

Punjab Chief Minister Captain Amarinder Singh on Monday met steel magnate Lakshmi Mittal over lunch here to discuss a project for setting downstream Petrochemical industry in Sangrur, apart from a slew of other ventures in the state.

This was their second meeting in two months and the two agreed to explore various initiatives to enhance the investments of Mittal-owned ArcelorMittal – the world’s largest steelmaking company – in Punjab, an official spokesperson said.

On the agenda for today’s talks was a proposal to set up a Rs 20,000 crore petrochemical plant in Bathinda, where the company already has a petroleum refinery, said the spokesperson, adding that the projects will help generate large-scale employment, besides raising revenues for the state.

Mittal stressed the importance of petrochemical industries as an important source of industrial growth and urged the Chief Minister for infrastructural support from the government. Captain Amarinder assured Mittal of all help in facilitating the development of infrastructure and other facilities in the state to facilitate business and industrial promotion, said the spokesperson. The Chief Minister cited various steps taken by his government to ease business and said the new industrial policy, set to be unveiled soon, will give a big boost to industrial development in the state.

The two also took forward their earlier discussions on setting up ancillary industries with investment ranging from Rs. 1 crore to Rs. 200 crore, as a joint private-public initiative, in Bathinda, thus giving a boost to the industrial development of the region.

Besides the Rs 22000 crore capacity expansion programme already initiated at the Bathinda refinery, Mittal’s company has also embarked on the process to set up a naphtha cracker unit to produce basic raw material for plastic manufacturing.

Mittal said his company was keen to make further investments in Punjab, where he saw immense potential for business growth in view of the changed environment following the installation of the Congress government.

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