99 multiplex projects get Punjab nod
THE Punjab government on Wednesday approved 99 multiplex projects in the state entailing an investment of Rs 16,000 crore. Manoranjan Kalia, local government, industries and commerce minister of Punjab, said the implementation of these projects would be monitored by a committee headed by the chief secretary. The projects were hanging fire ever since the new government came to power. ET had reported in December that 63 multiplexes will come up in Punjab with an investment in excess of Rs 9,900 crore out of which Rs 522 crore will be the actual immediate investment by the end of the financial year 2006-07. Exhibitors such as PVR, Waves, Adlabs, Inox and DT were some of the players entering the state. However, due to changes in the government the projects were left in the lurch. All projects had been stalled by the Akali-led coalition government and a review was conducted. Mr Kalia added that setting up of these multiplexes will provide employment to thousands of people.