Aditya Birla Group is investing around Rs 1,000 crore for its recent foray into the paints segment in Punjab and investing another Rs 500 crore in setting up a cement unit at Rajpura in the state. Punjab Chief Minister Amarinder Singh told the media that this investment would boost industrial activity within the region after handing over a land allotment letter for 61 acres of land at the price of Rs 147 crore within the recently developed Hi-Tech Valley Ludhiana. Additionally, he mentioned Punjab proposes a pleasant climate to prospective entrepreneurs and industrialists due to peaceful labour joined with robust infrastructure in terms of excellent road, rail and air connectivity. He said Punjab has emerged as the country's most preferred investment destination due to its pro-investor industrial policy and lucrative incentives. According to an official statement, being a one-stop shop, 'Invest Punjab' has smoothly facilitated picking up massive investments worth Rs 91,000 crore in over 2,900 project proposals received during the past four years. The state has been able to attract such meaningful investments even during the increase of the Covid-19 pandemic, and out of those investments, nearly 50% have already started commercial production. Kumar Mangalam Birla, Aditya Birla Group Chairman, joined the meeting virtually from Mumbai, affirmed faith in Punjab's industrial ecosystem, forward-looking industrial policies and a non-intrusive government interface. Additionally, Birla told the chief minister that the upcoming paint manufacturing unit is going to generate around 1,500 indirect job potential and direct employment of over 600 people through its operations. Birla also said that this upcoming plant would have the best environment security systems and best-in-class safety having zero liquid discharge and that they are looking forward to continued support to establish more such ventures like this in the future. Image Source Also read: Aditya Birla Group to invest Rs 700 cr for paint industries in UP