Goa Investment Promotion Board approves 10 projects worth Rs 348 crore

Panaji, 17 May: The Goa Investment Promotion Board (IPB) on Wednesday approved 10 projects with a proposed investment of Rs 347.93 crore, state Chief Minister Pramod Sawant said.
Sawant, who chaired the meeting of the IPB, said these projects will generate employment opportunities for 3,495 individuals.
“The Goa Investment Promotion Board approved 10 different industrial projects with a proposed investment of Rs 347.93 crore. Of these 10 projects, four are for the expansion of manufacturing capacity in the existing units, while three are new units proposed by the existing manufacturing companies in the state,” the chief minister said in a press conference after the meeting.
One of these three proposed units is a Goan start-up that will manufacture All-Terrain Vehicles (ATV) and Unprotected Transport Vehicles (UTVs) for the defence sector. Apart from that, one senior executive of a pharmaceutical company is venturing into food testing laboratory business and the last one is a Goan hospitality brand with multiple units across the state that is investing into another eco-tourism project, he said.
“These projects demonstrate the immense opportunity of doing business that Goa offers. The fact that all 10 projects are Goa-based is a thumbs up to the efforts of the government of Goa in assuring economic prosperity. (PTI)
The board has directed that these projects be fast-tracked with maximum employment opportunities for the locals,” the CM added. (PTI)