CB News
Srinagar, March 19: Jammu and Kashmir Lt. Governor Manoj Sinha on Sunday laid the foundation stone of the first foreign direct investment project in Srinagar’s Sempora area where a mega mall will come up with a whopping Rs 250 crore.
Speaking to reporters on the sidelines of the function, LG said that today is a historic day for J&K as United Arab Emirates (UAE)-based EMAAR Group has decided to invest Rs 250 crore to establish a mega-mall on 10. lakh square feet at Sempora, Srinagar. “This is a proud moment. The Emaar group will also invest in setting up IT towers in Jammu and Srinagar besides the mall and the total investment of the group will reach Rs 500 crore,” he said.
Earlier, addressing the gathering, LG said that the investment made by the Emaar group is just the beginning. He urged the EMAAR group to ensure the completion of the mall in the shortest possible time.
The LG said that some people have a negative mindset in J&K and keep criticizing the government’s policies as they cannot digest the huge development taking place in the UT. “J&K has witnessed a major sea change after August 5, 2019. Government land remained in illegal possession of some people which was recovered. The recovered land will be used for instal… home to industries, playgrounds for the youth and cemeteries for the people,” he said.
LG said that J&K was getting the cheapest power in the country. “J&K is the first place after Telangana to have the first Women Entrepreneur Institute (WEI),” he said: (KNO)
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