Canadian firm may invest 100 million dollars in Mohali IT Park

CHANDIGARH: As part of bilateral economic cooperation between Punjab and the province of Ontario (Canada), Canadian IT firm Kitchener evinced keen interest to invest 100 million dollars in Mohali IT Park to establish data centre services.
An MoU was inked between Punjab and Ontario in this regard. The agreement emphasises on advancing avenues of economic cooperation.An official spokesman said principal secretary, industries and commerce Anirudh Tewari and Helan Angus, deputy minister, ministry of citizenship, immigration and international trade signed the MoU in Punjab Bhawan in the presence of Punjab deputy chief minister Sukhbir Singh Badal and Ontario premier Kathleen Wynne.
The bilateral agreement will focus on exploring business and investment opportunities in Ontario and Punjab through seminars and exchange of ideas by industrialists. It will also enhance knowledge about core sectors and rapid economic development of both regions.
Sukhbir said exchange of expertise in skill development would be emphasised and Punjabi diaspora in Canada would use the opportunity to invest in Punjab. Sukhbir described Punjab as a hot favorite destination for investment, with two successful progressive Punjab Investor summits.
Kathleen offered to form a joint team of both provinces to explore potential areas for investment and exchange of expertise. She lauded implementation of governance reforms by Punjab government and simplification of procedures to set up new industries and infrastructure. She also offered co-operation in strengthening the relationship between the two provinces.