Chandigarh: Real estate developer Alpha G:Corp on Tuesday announced to set up a model industrial park with an investment of Rs 300 crore in Amritsar which would be completed within next three years.
Spread over 147 acres of land, this project would be jointly developed by Penguin Buildtech Pvt Ltd, a wholly-owned subsidiary of Alpha G:Corp and Veer Colonisers & Builders.
"...The Rs 300 crore project will be a boon for small and medium-scale industrial enterprises that aspire for high- quality industrial infrastructure for operational efficiency and growth, currently available only to large industrial units," said S K Sayal, Director and CEO, Alpha G:Corp.
The Model Industrial Park will be the first-of-its-kind in Punjab to accommodate units of red, green as well as orange category industries.
The flexibility to accommodate industries with varying demands along with infrastructure to support hi-tech and energy intensive industries makes this industrial park an attractive proposition across the state, official said.
The mega project will also have a common effluent treatment plant (ETP) to treat industrial waste and provision for parking spaces both for the public and commercial vehicles, power sub- stations, rain-water harvesting, fire fighting arrangements, an industrial canteen and recreation centre, he added.
"The Model Industrial Park is set to create an estimated 5,000 direct jobs in the Amritsar region," he claimed.
With project being accorded mega-project status, the state government has allowed 100 percent exemption from stamp duty and registration fee on first sale or transfer of built up spaces or land inside the project area.
Further, there shall be no stamp duty on lease instrument of units located in project area, he said.
Alpha G:Corp has already developed commercial complex AlphaOne, and housing project in Amritsar with an investment of Rs 650 crore.
First Published: Tuesday, May 7, 2013, 18:19