Sun Group to Invest Rs 550 cr in Mohali

UK based Sun Group has firmed up plans to invest Rs 550 crore in the
real estate sector of Punjab. "Initially, the company would set
up multi facility project which will involve setting up of hotels, multiplexes
and malls in the Mohali district," said a senior official of Punjab
Industries Department.

A high level delegation from the company led by its chairman Nand Khemka
today met representatives of Punjab government and discussed their business
plans with them, said an official release issued here today

The regional consultant of the Sun Group, Dilbagh Singh Mangat assured
the Chief Minister that the Group was completely happy with the investor
friendly climate introduced by the SAD-BJP government in the state.

He said that the Group plans to replicate the Mohali venture in other
parts of the state like Jalandhar, Amritsar, Ludhiana, Patiala and Bathinda".

It may be recalled that the Sun Group had already invested heavily
in the revival of Punjab Wireless Systems (PUNWIRE) for production of
Defense Electronics and Civil Telecom items.

The Chief Executive Officer of the world renowned Doha based Barwa
International Group, Ghassan Al Binali, who accompanied the Sun Group
delegation, made a proposal for a significant Foreign Direct Investment
(FDI) in various sectors, especially power.

Photo: Sheikh Hasina Meeting With Investors In Economic Zones Dhaka by Press Information Department, licensed under Public domain, via Wikimedia Commons.