The outstanding investment in 564 ongoing projects in Punjab was Rs 47,902 crore till December 31, 2006, an increase of 25.37 per cent over the previous year's 452 projects worth Rs 38,206 crore, says ProjectsToday, the largest online database on new projects in India. All sectors, except mining and irrigation, saw an increase in project investment.
The state ranked 17th with a project implementation ratio of 28.2 per cent accounting for 1.9 per cent of the overall project investment in the country. In the last six years (from December 2001 to December 2006), the average rate of growth in projects was 14.14 per cent and that number of project investment was 11.76 per cent.
Over the years Punjab has been attracting private sector investment even as investment by government sector is increasing.
Till December 31, 2006, the private sector accounted for 163 projects valued at Rs 11,140 crore, an increase of 65.11 per cent over the previous year's 80 projects worth Rs 6,747 crore. Major investments were in real estate.
The Central and state governments had 401 projects with Rs 36,762 crore of investment. Central government investment increased from Rs 15,849 crore in 50 projects to Rs 21,697 crore in 60 projects. The number of state government projects also increased from 322 to 341. However, investment declined from Rs 15,610 crore to Rs 15,065 crore.
Thus, the government and private sectors accounted for 76.74 per cent and 23.26 per cent share, respectively, in overall project investment.
The manufacturing sector cornered maximum projects with outstanding investment of Rs 22,115 crore in 91 projects with a 46.17 per cent share across sectors. Project investment in manufacturing registered a 52.02 per cent rise over last year's investment of Rs 14,547 crore in 65 projects.
A look at some of the major ongoing projects across sectors: Oil & Gas: The Guru Gobind Singh (Bhatinda) refinery (Rs 15,072 crore) of the central government is in the planning stage.
Chemicals: The basic chemicals sector accounted for 16 projects worth Rs 17,129 crore. The ammonia urea (Sangrur) project (Rs 1,500 crore) of Punjab State Industrial Development Corporation Ltd is in a nascent stage.
Power: The number of projects in this sector went up from 118 to 121 and outstanding investment from Rs 10,329 crore to Rs 10,840 crore i.e. an increase of 4.94 per cent and the overall share declined from 27.04 to 22.63 per cent.
Major projects in this sector are the Punjab government's Guru Hargobind Power Project, Stage II (Rs 1,790 crore) at Bhatinda, currently under execution, and GVK Reddy Group's upcoming coal/lignite based power project in Amritsar (Rs 2,500 crore).
Services & Utilities: The number of projects stood at 348 with outstanding investment of Rs 13,818 crore, an increase of 13.25 per cent over last year's 265 projects valued at Rs 12,201 crore.
Real Estate: Projects in this sector rose from 23 to 69 with an increase of Rs 109 crore in outstanding investment to Rs 2,127 crore.
Irrigation: This sector did not attract any new project although it accounts for four projects with outstanding investment of Rs 1,129 crore. The share of irrgation in overall project investment in the state declined from 2.96 to 2.36 per cent. The Rs 499.12-crore Sutlej Yamuna Link
Canal Project (phase-I) is partially complete while the Rs 319-crore Bhakra Canal Irrigation Project is currently under execution. Both are state government projects.