NRI from Khanna to invest Rs 500 cr in Punjab

NRI from Khanna to invest Rs 500 cr in Punjab
Chandigarh: From a time when he could barely afford to spend Rs 500 to now when he is investing Rs 500 crore in Punjab, Oman-based businessman Bhagwant Singh has come a long way.

Originally hailing from Khanna, Bhagwant Singh, after spreading his business in West Asia, Africa and America, is now looking at giving back to his motherland by investing in a fruit manufacturing plant in Mohali.

“I am at a stage in life where I have gained a lot. Now, I want to make use of my wealth for helping in the growth of my state and its people,” he told The Media.

Bhagwant Singh submitted his proposal to the Invest Punjab and is awaiting various clearances. He also met CM Bhagwant Mann yesterday and explained his project. His company, Singh and Company, plans to procure citrous fruits from the Malwa region and Hoshiarpur.

He said, “In the first phase, we are setting up the plant on four acres in Mohali district, with initial investment of Rs 100 crore. As we expand, the total investment in the plant will be Rs 500 crore.”