Punjab Agro Industries Corporation Limited
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.PAIC has now been given the role of setting up of public sector projects in Agro/food processing sector as well as creation of facilities/infrastructures for setting up of food processing units in the state. As on 31.3.2014, 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 92.39%, 2.53% and 5.08% 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. 692 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, 2009. The Empowered Committee for Mega Projects has approved 57 projects as on 30.9.2012 with a total investment of Rs. 63,670 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.
1. Mr. Rajnish Tuli
Deputy General Manager (Projects)
Punjab Agro Industries Corporation Ltd.,
Plot No.2-A, Sector 28-A, Madhya Marg,
E. mail: email@example.com