the goan I network
PANAJI
A project to make GPS navigation assistance gadgets from India’s largest blue-chip IT company TCS Ltd is among several expected to be approved by Goa’s Investment Promotion Board at its meeting scheduled for Wednesday.
TCS in its proposal has said that the product is proposed to be manufactured by them at its existing facility and land holdings at the Karaswada industrial estate in Mapusa and will be supplied to the Indian Defence forces.
The project will entail an investment of Rs 22 crores and create around eight blue-collared jobs.
KPMG, the consultancy firm engaged by the IPB has recommended that the board grant its in-principle approval to the project at its Wednesday’s meeting to be chaired by IT Minister, Rohan Khaunte.
The IPB meeting which will be held for the first time in the absence of Chief Minister Manohar Parrikar who is its chairman, is expected to consider over a dozen proposals from private investors which collectively envisage creating around a 1,000 jobs with an investment of around Rs 800 crore.
Khaunte, whom Parrikar had expressly instructed to chair Wednesday’s deliberations in their meeting in Delhi on Friday, is the Board’s vice-chairman.
Another significant project expected to be approved by the IPB on Wednesday is the one proposing to manufacture ammunition for the first time in Goa. The Bengaluru-based M/s. HUGHES
Precision Manufacturing Pvt. Ltd is seeking in-principle approval for allotment of 8000 square metres land anywhere in Goa for its Ammunition Manufacturing facility.
Apart from putting up civil structures for the plant, the Bengaluru company also proposes to build a 120-meter shooting range on the land it is seeking. KPMG has recommended in-principle approval for the project although it has asked the board to negotiate reduction of land requirements with the promoters.
Meanwhile, a number of proposals in the Hospitality Sector are also listed on the agenda of the IPB meeting on Wednesday scheduled to be held in the afternoon at the Ministerial Block of the State Secretariat in Porvorim.
Among these hotel projects is one proposed by prominent Goan real estate and hospitality company -- M/s. Models Construction Pvt. Ltd. -- for setting up a 4-Star Service Apartment Resort at Marra-Pilerne. Its promoters, Peter Vaz and Edgar Afonso, already own the 8000-odd square metres of land classified in RP-21 as Settlement zone. An investment of Rs 130-crores is proposed for the project which is expected to employ around 240 persons.
