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| Efforts redoubled to mobilize industrial investment: Kichloo | | |
Srinagar: Saying that the Government has redoubled efforts to mobilize investment in Industries and Commerce Sectors, the Minister of State for Industries, Commerce, Home & Tourism, Mr. Sajad Ahmad Kichloo today said main focus is to bring hitherto uncovered areas under Industrialization. He said industrialization is the key to massive socio- economic development.
Speaking to various deputations here at Civil Secretariat, Srinagar today, Mr. Kichloo said in addition to opening of new Industrial Estates in different areas of the State efforts are under way to rehabilitate sick Industrial units in various areas of the State. He said out of 66 indentified sick Industrial units in the State, 32 units have been provided soft loans amounting to over Rs.3.69 Crore so far. These sick Industrial units include 30 in Kashmir division and two in Jammu division.
Mr. Kichloo said in a major achievement, the Government has started work on Rs.160 Crore Magnesite project at Panthal, Reasi in joint venture with National Mineral Development Corporation (NMDC) and Jammu and Kashmir Minerals Limited (JKML) for extraction of high grade raw Magnesite and manufacturing of Dead Burnt Magnesium (DBM). He said all formalities including Techno Economic feasibility report, Environmental, Wildlife and Pollution clearances and formations of project packages also stand completed.
“The Project shall extend both direct and indirect employment opportunities for locals and has scope for further expansion for manufacturing of Fuse Magnesia and Refractory Tiles out of DBM”, Mr. Kichloo added. |
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