J&K gets first FDI project after abrogation of Article 370
[ad_1]
copy photo
google creative commons
The Rs 500-crore project has the potential to provide employment to over 10,000 people, said Lieutenant Governor of the Union Territory Manoj Sinha during the foundation stone-laying ceremony in the valley.
Dubai-based Burj Khalifa builder Emar will invest Rs 500 crore in Jammu and Kashmir. The company on Sunday laid the foundation stone of the first foreign direct investment project in the Union Territory. Under this project, a shopping mall and multi-storey building will be constructed on the outskirts of Srinagar. The Rs 500-crore project has the potential to provide employment to over 10,000 people, said Lieutenant Governor of the Union Territory Manoj Sinha during the foundation stone-laying ceremony in the valley.
This is the first FDI project in Jammu and Kashmir after the Center abrogated Article 370 in 2019. Emaar Group CEO Amit Jain, Bollywood actor Vivek Oberoi and actress Neetu Chandra were present at the foundation stone laying ceremony. Sinha urged Emaar Group to complete the project before the deadline of three years. Sinha said, if the work of Parliament Complex can be completed within 1.5 years, then we can certainly expect its completion ahead of schedule. Jain said that his company’s investment in Jammu and Kashmir will have a profound impact. He said that with every investment of one rupee, there will be another investment of nine rupees. In this way, an investment of Rs 500 crore will turn into an investment of Rs 5,000 crore in future.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
