SUN Group bets big on Punjab
21 May 2008
Business Standard, India

The SUN Group of the UK today unveiled an institutional investment and infrastructure development plan for Punjab, involving diverse sectors like energy, mining, real estate, technology, infrastructure, hotels and beverages. The multi-billion-dollar business plan for Punjab was discussed at a high-level meeting between the representatives of the state government and the SUN Group in Chandigarh today.

Giving details of the meeting, the chief minister's media advisor, Harcharan Bain, said that as a first concrete gesture, the SUN Group firmed up a Rs 550 crore multi-facility project in Mohali. Later, the regional consultant of the Sun group, Dilbagh Singh Mangat, said the group planned 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 invested heavily in the revival of Punjab Wireless Systems (PUNWIRE) for the production of defence electronics and civil telecom items. The chief executive officer of the renowned Doha-based Barwa International Group, Ghassan Al Binali, who accompanied the SUN Group delegation, made a proposal for significant foreign direct investment (FDI) in various sectors, especially power.

The Barwa group is known also for infrastructure development ventures including commercial buildings, residential areas, retail complexes and business centres.

According to Bain, the $1.5 billion SUN Group and $2.6 billion Barwa International assured Chief Minister Prakash Singh Badal that the twin infrastructure giants would put Punjab on the top of the priority areas as part of their plans on joint ventures in high-growth corridors in the country.

ENDS