Team Herald
PANJIM: The Investment Promotion Board that met on Saturday decided to review ten projects, of which two are the marina projects, which have attracted much protest. Five projects were rejected and two projects, which had been approved, saw the decisions reversed because there was no response from the applicants.
A source told Herald that the two marina projects were being sent for review to gain further clarity. Of the five projects rejected, the fish meal project in Barcem proposed by Viva Marine Impex was not considered.
It was also announced in the meeting that Mumbai based investment banker Vishal Prakash would take charge as CEO of IPB in August.
The marina projects, which have been placed under further review, were expected to provide parking bays for over 200 yachts. The proposals have been promoted by two private agencies, Kargwal Construction based in Mumbai and Goa-based Yacht Heaven. With a proposed investment for both at around Rs 700 crore it was expected to provide employment for around 450 people.
The two marinas were proposed to come up along River Zuari in Sancoale, and in Nauxi, also along Zuari river. The two projects are being proposed on a public-private partnership basis.
