Team Herald

 

PANJIM: Five projects of companies interested in expanding their businesses in the State have been cleared by the IPB at the latest meeting held in Panjim, today. 

This is expected to generate 209 jobs for the youth of the State. This was revealed by a member of the board of the IPB authorised to speak on the matter. 

It was also decided that open spaces in industrial estate were likely to be reduced from 15% to 10%. This would depend on the final decision of a committee.

These clearances will result in Rs168.71 crore of investments being approved in this meeting. The board has made it clear these clearances are dependent on the companies receiving the relevant permissions from departments like pollution control, etc. 

The board also decided to seek further clarifications on nine projects which are all new industrial projects. 

The project of Kakode Trading Limited which has sought space to manufacture light engineering products is now being kept on hold because the applicant proposes to withdraw the proposal. 

A project of Pearl Engineering to manufacture electrical stamping for fans has been deferred. 

Another by Eminent Amines to set up new Monosodium Glutamate will have to provide additional information. A project to manufacture ash bricks has been deferred.

The process to recruit a new CEO has commenced with several applications already having being received. The process to shortlist the candidates have commenced. The contract to bring on board KPMG is expected to be signed shortly and the consultancy is expected to be present at the next meeting scheduled to take place in the next 20 days.