IPB gives ‘in principle’ nod to 5 projects

PANJIM: The Goa Investment Promotion Board (IPB) headed by Chief Minister Laxmikant Parsekar on Wednesday granted permission ‘in principle’ to five new projects in the manufacturing sector. It is expected to generate employment for approximately 1661 people. The five proposals bring in a total investment of Rs 979 crore.

The proposals from other industries like tourism were not cleared due to paucity of time. The hotel projects are expected to be cleared at the next meeting. With regards to the appointment of the CEO of the IPB, a source said the file had been cleared and it was now up to the government to take the necessary action. 
Among the five projects cleared two are for expansions at existing sites. Encube Ethicals Pvt Ltd at Madkai Ind Estate which manufactures topical formulations like ointments, creams, lotions is spending Rs 27.5 crore to expand its manufacturing facility. This move is expected to provide jobs to 95 people.  
The second facility expanding its existing facility is Aliaxis Utilities and Industry Pvt Ltd at Verna Industrial Estate which makes mouldings for gas pipe lines with an investment of Rs 7.5 crore and is expected to provide employment for 16 people. 
The tire major MRF is setting up a new facility at Usgao with an investment of Rs 850 crore. It is expected to provide employment for 1250 people.
Goodwill Enterprises will be investing Rs 3 crore in a facility which will manufacture adhesives. It is expected to employ 100 people. This project is tentatively scheduled to come up at the Shiroda Industrial estate. The fifth project cleared is that of TCPL Packaging Limited will manufacture printed packaging material. With an investment of Rs 56 crore it is expected to provide employment to 200 people.
The management of these companies will now begin the process of beginning work on the site. The IPB had earlier cleared nearly 38 pollution-free projects.

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