The government of Punjab yesterday initiated talks with Mukesh Ambani-led Reliance Industries. The State wants the most profitable company of India to invest in food processing and set up a project in the state. Additional Chief Secretary (Development) of Punjab state, Suresh Kumar, confirmed that they had discussions with the company. Food park project The State-run Punjab Agro Industries Corporation (PAIC) is planning to build a multi-product mega food park at Ladhowal in Ludhiana. The food park will be extended up to 100 acres and the project may cost around Rs. 140 crores. Kumar said, "We want Reliance Industries to set up a project in the upcoming mega food park at Ladhowal." A meeting with the officials of Reliance Industries will be held soon, he added. PAIC has prepared the Detailed Project Report (DPR) for the mega food park and will submit it to the Central Government in this month. After that, a formal approval will b
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received from them. The proposed project plan states that there will be collection centers in the villages of Muskabad in Samrala, Kangmai in Hoshiarpur, Babri in Gurdaspur, Saholi in Nabha and Lalgarh in Samana. Five more centers will be established to create superior quality vegetables and fruits clusters. Progressive Punjab Investment Summit Progressive Punjab Investment Summit will be held on 28th and 29th October at Mohali. The State predicts that the company may announce its plans of the project investment, there.This will be the second summit of Punjab government. The first one was held in December, two years ago. It got deals worth Rs. 65,000 crores for the state. Reliance Industries had then announced investments of Rs. 2,500 crores for establishing its digital network for 4G in the state. Reliance Retail's ventures The retail arm of Reliance Industries had signed a deal of Rs. 500 crores in 2006,
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the then Congress government. The company had decided to increase the investment to Rs. 5,000 crores. The deal was signed to develop farming infrastructure and deliver the items. It was however cancelled in 2009 by the then SAD-BJP led government. Reliance Retail is currently focusing on rolling out its e-commerce business. It will launch three online portals dedicated to grocery, fashion and lifestyle, and for business-to-business ventures. The retail arm's grocery portal is already in its pilot stage and the company will launch its fashion and lifestyle portal, this year. The company will integrate the e-commerce business with Reliance Jio Infocomm's forthcoming 4G services and offer anytime, anywhere shopping. Reliance Retail is also developing its offline retail business to give a differentiated experience to the customers. The company is planning to increase its presence from 200 to 900 cities. Currently, Reliance Retail operates 2,600 stores in 20 states o
f the
country. The stores have employed around 50,000 people in India. The online and offline business will help the company to offer a world-class customer experience and innovations in payment techniques and delivery services.Read more on IndiaPRwire.com