Taiwan-based company Charoen Pokphand will set up five modern units including feed mill in the field of poultry and pig farming with capital outlay of Rs 571.20 crore.
A memorandum in this regard was signed between Punjab government and the company here today, said an official release.
A spokesperson of state government said that a delegation of Charoen Pokphand (Thailand) Company led by its Vice-Chairman Chaiyaporn Montha called on Punjab Chief Minister Parkash Singh Badal at his residence this afternoon and apprised him company's decision to invest in Punjab.
More From This Section
The CP Group intended to commence commercial production by the year 2014 and complete the proposed investment by the year 2018.
Badal assured the company that the government would extend full support and cooperation to the company for further setting up their operations in the state.
He also asked them to initiate some project in the field of fishery particularly in the waterlogged areas of Punjab.
Regarding the issue of importing animals for setting up of a swine processing unit in Punjab, Badal said that this issue was under the jurisdiction of the Union Government.
However, he offered that in this regard the state would write to the Centre in favour of the company whenever needed.
He said that SAD-BJP government was fully committed to boosting allied farming in the state to enhance the profitability to the farming community.