Goa Investment Promotion Board clears projects with investment of Rs 733 crore

The Goa Investment Promotion Board (Goa-IPB) has approved nine projects with a potential investment of Rs 733 crore, expected to create employment for 2,319 people in the state, a senior official said.

The Board meeting, chaired by Chief Minister Pramod Sawant, discussed various investment proposals in the state.

"The approved projects, include pharmaceutical manufacturing, warehousing, machine tools manufacturing, and beverage manufacturing," the official said on Wednesday.

Goa's Industries Minister Mauvin Godinho was also present at the meeting.

The official said the Chief Minister emphasised the importance of creating the maximum number of jobs for locals through these projects.

Among the approved projects is an expansion by Procter & Gamble under its subsidiary, Gillette Diversified Operations Pvt Ltd, which will manufacture multivitamin tablets and food-grade softgel capsules.

Additionally, Zydus Lifesciences Ltd proposed a project to manufacture Repsules at a new unit they plan to set up.

The official also mentioned that the Goa government has granted industry status to the logistics sector, under which M/s Express Machines and Scaffolding Pvt Ltd. has been approved by the Board to set up another large warehousing facility in the state.

"One of the earlier approved eco-tourism projects of the Board in the Quepem region, now branded under Indian Hotels Corporation Ltd, has been granted approval for expansion, showcasing the popularity of Goa as both an industrial and a tourism destination," he said.