Investment by companies to be over Rs 200 crore
Panaji: Goa-Investment Promotion and Facilitation Board (Goa-IPB), on Tuesday, cleared 10 new projects with a total investment of Rs 217.25 crore.
The projects have an employment potential of 941 jobs, said Chief Minister Pramod Sawant, who chaired the meeting.
Post meeting, he said the government is committed to transparent, time-bound clearances, ease of doing business, sustainable industrial growth and employment generation for Goans.
The Board also reviewed three large investment proposals seeking incentives under the Goa Industrial Growth and Investment Promotion Policy, 2022, said Sawant. These include a Rs 722 crore project of Vedanta Ltd for DI pipe manufacturing with 585 jobs, a Rs 1,500 crore expansion project of a glass-fibre manufacturing company 3B Advanced Composites Pvt Ltd at Colvale with a potential of 1,000 jobs and a Rs 363 crore medium voltage switchgear unit project of Siemens Ltd at Verna with 182 jobs.
Under the Goa Industrial Growth and Investment Promotion Policy, companies investing over Rs 100 crore in the state and generating employment for 1,000 people are eligible for special incentives.
The 40th meeting of IPB was held in the presence of Industries Minister Mauvin Godinho, Goa Industrial Development Corporation (GIDC) chairman Reginaldo Lourenco, Goa Chief Secretary Dr V Candavelou, senior officials and industry representatives.
At its previous meeting held in June this year, the IPB had approved seven new projects worth Rs 180 crore, with a capacity to provide employment to 1,508 people.
Meanwhile, the government had earlier in July informed the state legislative assembly that of the 98 investment proposals cleared by IPB from 2021 to 2022 with an employment potential of around 22,000 jobs, only five projects are in operation and have provided around 275 jobs.
The remaining 93 projects are in progress and are yet to create employment opportunities. Some of the projects approved by IPB are awaiting plot allotment by GIDC and, therefore, unable to take off.
