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Punjab gives 62 acres of land to ITC in Kapurthala for food products unit 01 Mar 2014

Times of India

After deciding to allot 62 acres of land in Kapurthala  district to ITC Limited, Punjab deputy chief minister Sukhbir Singh Badal  handed over a letter of intent (LoI) to the company here on Friday at a public  function in the grain market. The company has assured to make an investment of  Rs 700 crore for manufacturing food products.

The company had signed a MoU with Punjab government during  the investors' summit at Mohali in December 2013. The chunk of land is in  integrated mixed-use Industrial Park, Kapurthala.

Meanwhile, Badal announced all assistance to the company for  making the "prestigious project" a success. ITC is required to  commission the project within three years. The company claimed that it would  also build a logistics hub at the proposed site and generate employment for  about 2,000 people. The project would also enhance farmers' income as it would  be an agro-based plant, Chitranjan Dar, divisional chief executive of ITC's  food business said.

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