Goa govt approves 10 industrial projects worth Rs 348 crore

Panaji, May 18 (KNN) The Goa Investment Promotion Board (IPB) headed by Chief Minister Pramod Sawant approved 10 projects with a proposed investment of Rs 347.93 crore on Wednesday.

"The Goa Investment Promotion Board approved 10 different industrial projects with a proposed investment of Rs 347.93 crore. Of these 10 projects, four are for the expansion of manufacturing capacity in the existing units, while three are new units proposed by the existing manufacturing companies in the state," the chief minister said in a press conference after the meeting.

The state government is expecting to generate employment opportunities for over 3,495 individuals from the approved projects.

One of these three proposed units is a Goan start-up that will manufacture All-Terrain Vehicles (ATV) and Unprotected Transport Vehicles (UTVs) for the defence sector. The Goa CM informed a pharmaceutical company will be setting up a food testing laboratory business in the state.

"These projects demonstrate the immense opportunity of doing business that Goa offers. The fact that all 10 projects are Goa-based is a thumbs up to the efforts of the government of Goa in assuring economic prosperity. The board has directed that these projects be fast-tracked with maximum employment opportunities for the locals,” he added.  (KNN Bureau)