Srinagar, 19 March (HS): Jammu and Kashmir?s Lieutenant Governor Manoj Sinha on Sunday laid the foundation stone for the first direct foreign investment project at Sempora area of Srinagar where a mega-mall will come up at the whopping ?250 crore.
Talking to reporters on the sidelines of the function, the LG said that it is a historic day for the J&K as the United Arab Emirates (UAE)-based EMAAR Group decided to invest ?250 crore to set up a mega-mall on the 10 lakh square feet area at Sempora, Srinagar. ?This is a moment of pride. The Emaar group will also invest in setting up IT towers in Jammu and Srinagar, besides the mall and total investment by the group will touch ? 500 crore,? he said.
Addressing the gathering, the LG said that the investment made by the Emaar group is just a beginning. He urged the EMAAR group to ensure the completion of the mall within the shortest possible time.
The LG said that J&K was getting the cheapest power in the country. ?J&K is the first place after Telangana to have first Women Entrepreneur Institute (WEI), he said.
Hindusthan Samachar/Krishan
Leave a Reply