Panaji: The Goa Investment Promotion and Facilitation Board (IPB) met on Thursday and cleared four investment proposals, which could bring in Rs 230 crore of investment to the state and also create jobs for 1,489 people.
Chief minister Pramod Sawant, who chaired the meeting, said that the projects would benefit Goa immensely.
“There were four to five new investment projects and we have sanctioned four of them. One is at Latambarcem, one is at Kundaim industrial estate and one is in a private area,” said Sawant while speaking to reporters after the board meeting.
The investment proposals are for light engineering firms, manufacturing, agro-food processing and an automotive service facility.
According to officials, the board deliberated on two project proposals received before September 1 and eight projects received through the new online single-window system rolled out by IPB. “The board approved four of 10 proposals with a total investment of Rs 230 crore and projected employment of 1489 with 82% proposed local employment,” said IPB chief executive officer Swetika Sachan.
In the entire year, IPB has conducted just four board meetings and has approved projects with an investment of Rs 832.1 cr and which could create employment for 3613 individuals. IPB said that 78% of these jobs will go to locals.
IPB is also in the process of drafting new rules and regulations under the new Goa Investment Promotion and Facilitation of Single Window Clearance Act, 2021. The board, which is headed by Sawant, has already approved a new methodology for land allotment, which uses a points-based system to evaluate project proposals. The investment score is then evaluated against the advertised land bank in the state.
The board has already identified unused land across various industrial estates in Goa and has invited project proposals from potential investors.
Also Read:
Of the total 863 investment projects, 272 are Highly Probable (more than 90% probability) worth $41 billion, 279 Moderately Probable (51-90%) proposals worth $69 billion and Long Term (less than 50%) projects worth $11 billion.
The government said the project, for which an MoU was earlier signed in March, will complete in seven years in phases. A chief secretary-led high power committee will monitor progress of the project. The government agencies will provide the logistic infrastructure, power and water utilities and all the clearances for the project in a time bound manner.