Shivani Bhakoo
Tribune News Service
Ludhiana, December 10
UAE-based Sharaf Group will come up with a logistics park at Kila Raipur, near Ludhiana. This was announced during the Progressive Punjab Investors Summit, which concluded at Mohali recently.
Talking to The Tribune, Sharaffudin Sharaf, vice-chairman, Sharaf Group, and Shyam Kapur, president and CEO, said the park (under execution) will be spread across 65 acres. The state-of-the-art park will provide seamless logistics services in the region. In the first phase, the group will invest around Rs 250 crore on the park, which is expected to be completed within a year.
The UAE’s Ambassador to India, Dr Ahmed Al Banna, said he had discussed several areas of mutual interest with Punjab Chief Minister Capt Amarinder Singh during the summit. He said since the inception of the UAE in 1971, the Indian community had contributed immensely to its growth. Around 3.3 million Indians live in the UAE.
Dr Banna said the UAE and India had business ties earlier also, but after the two visits of Prime Minister Narendra Modi to the UAE, the entire scenario has changed. Both the countries have signed several strategic agreements. As far as Punjab is concerned, he said, the areas of interest would be renewable energy, food processing, oil and gas, health and education.
Major export destination for Punjab
- The United Arab Emirates is one of the major export destinations for Punjab. It is also the biggest importer of textiles and food products from the state
- It is also a potential investor in the realy and logistics sector
- Food trade is one of the few sectors that can greatly benefit from the collaboration of the two regions
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from The Tribune https://ift.tt/2LDcYm3
via Today’s News Headlines
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