Looking Back 2022: Mega projects okayed,

December 31, 2022

The industrial sector saw the state getting mega projects like bulk drugs park and medical device park this year with Prime Minister Narendra Modi laying their foundation stones.
The foundation stone of the Rs 350-crore medical device park at Nalagarh was laid on October 5.
Himachal Pradesh is one of the four states that has been selected for this park. Memorandums of Understanding (MoUs) of more than Rs 800 crore have been signed for this project with prospective investors.
Himachal Pradesh is the second state where a bulk drugs park is being set up while only three states have been granted this key project. Its foundation stone was laid by the Prime Minister on October 13.
For the Rs 1,923-crore Bulk Drug Park Project, the Central grant will be worth Rs 1,118 crore while the state government will contribute the remaining amount of Rs 804. 54 crore.
The drug park is expected to attract an investment of Rs 8,000 to Rs 10,000 crore and likely to generate employment for 15,000-20,000 persons.
The project is slated to provide a major fillip to the socio-economic development of the region. Setting up of this park will reduce export dependence of active pharmaceutical ingredients of the pharmaceutical industries.
Apart from these projects, as many as 209 industrial projects were approved in the state this year which are slated to generate employment for 25,564 persons, while fetching an investment of Rs 8,314.98 crore.
A Memorandum of Understanding (MoU) worth Rs. 5000 crore was signed between the State Government and M/s SMPP Private India Ltd regarding setting up of ammunition manufacturing facility in the State for tanks and artillery guns.
In a bid to develop the state’s industrial hub of Baddi-Barotiwala-Nalagarh, the National Industrial Corridor Development Corporation Limited (NICDC) has initiated an exercise under the Amritsar-Kolkata Industrial Corridor Project. It will provide ease of logistics to the industry, create jobs and spur economic growth.