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Punjab Agro-Industries
Corporation (PAIC)
Punjab Agro Industries Corporation
Limited (PAIC) is the premier organization of Punjab
Government, entrusted with the responsibility of promotion
and facilitation of agro based industries including agro
processing, dairy processing, poultry processing, agro
residue processing, food & horticulture processing, agro
chemicals manufacturing etc. in Punjab. PAIC was
incorporated in 1966 with the objective to provide quality
agri inputs viz. fertilizers, pesticides and tractors to
farmers. In early 1980s, PAIC ventured into project
development activities and implementation of agro processing
units in the public sector. Subsequently, to encourage
private investment in agro processing sector, PAIC shifted
its focus to promote such units in the joint/assisted
sector. As on 31.3.2007, the paid-up capital of PAIC was
Rs.492 millions, with the share holding of State Govt.,
Central Govt. and Punjab Rural Development Board at 92%,
2.5% and 5.5% respectively. The
Board of Directors
comprises of eminent people with varied administrative and
technical expertise. The various departments of PAIC are
headed by highly qualified and experienced
professionals.
PAIC identifies technically feasible and economically viable
projects and invites offers for financial collaboration for
their implementation in the joint/assisted sector. PAIC also
welcomes project ideas brought by entrepreneurs and after
studying its commercial viability, it participates in the
equity capital of the project ranging from 11-26%.
Apart from equity participation, PAIC actively assists
private Indian/foreign collaborators in obtaining all kinds
of statutory sanctions/approvals as well as various
grants/subsidies from State/Central Govt. PAIC has so far
implemented
44 projects in
assisted/joint sectors with an aggregate investment of
Rs.7050 million including PAIC equity contribution of Rs.
699 million. Currently
two projects
involving a total cost of Rs.335 million are under
implementation wherein equity contribution by PAIC shall be
to the tune of Rs.34 million.
The State Govt. vide its notification endst. no.
18/62/05-Agri.II(8)/10321 dated 7.12.2005 has declared PAIC
as Nodal Agency to facilitate investment in the agriculture
sector including agro processing under its Mega Project
Scheme announced as part of Industrial Policy, 2003. The
Empowered Committee for Mega Projects has approved
42 projects as on
31.1.2008 with a total investment of Rs. 35,464 million.
The State Govt. has issued
General Procedure
for approval of agri mega projects which also specifies
conditions & concessions
including the format of
application to be
filed under this scheme.
Contact Persons:
1. Mr. Rakesh Khurana
General Manager (Projects)
Punjab Agro Industries Corporation Ltd.,
Plot No.2-A, Sector 28-A, Madhya Marg,
Chandigarh-160 002
Phone: 0172-2263892
E. Mail:
Khurana@punjabagro.com
2. Mr. Rajnish Tuli
Senior Manager (Projects)
Punjab Agro Industries Corporation Ltd.,
Plot No.2-A, Sector 28-A, Madhya Marg,
Chandigarh-160 002
Telefax: 0172-2651561
E. mail: agro.tuli@yahoo.co.in
projects_paic@glide.net.in
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