In a significant move to stimulate industrial growth and job creation, the Assam Cabinet, led by Chief Minister Himanta Biswa Sarma, convened at Lok Sewa Bhawan on Wednesday and approved new investment proposals totaling nearly Rs 969 crore. The Cabinet also decided to shut down the state-run Assam Plantation Crops Development Corporation Ltd and allocated Rs 6 crore for a voluntary retirement scheme and other closure-related costs.
This latest decision underscores a commitment to invigorate Assam’s economy by attracting private investments across sectors. The Cabinet approved tailored incentives under the Industrial and Investment Policy of Assam (IIPA) 2019, aimed at four major private sector projects spanning healthcare, hospitality, and manufacturing.
Premier Cryogenics Limited plans to invest Rs 125 crore to set up a high-purity semiconductor-grade gas manufacturing facility in Jagiroad, expected to create around 200 jobs while bolstering the state’s developing electronics and semiconductor ecosystem. In the hospitality sector, Jonali Construction Private Limited is set to invest Rs 182.17 crore in its Marriott Resort and SPA project, which will create an estimated 204 jobs.
Furthermore, Ambuja Neotia Hotel Ventures Limited is proposing a hotel project worth Rs 360 crore, enhancing Assam’s tourism and service sector. In healthcare, the Ambuja Neotia Healthcare Venture Limited’s Rs 302.65 crore hospital initiative aims to significantly improve medical infrastructure in the region. Collectively, these four projects will invite a cumulative investment of Rs 969 crore and are projected to generate 2,704 direct employment opportunities.
Officials highlighted that these approvals reflect the government’s strategy to attract private investment and broaden Assam’s industrial landscape beyond its traditional bases. By offering specialized incentives, the government anticipates these projects will stimulate growth in related industries, enhance service delivery, and provide sustainable economic prospects for the state’s youth.
The Cabinet’s decisions signal a dual approach: rationalizing underperforming state enterprises while enabling new private investments focused on job creation and advancing Assam’s economic development trajectory.
Original Source: https://theshillongtimes.com/2025/08/27/assam-cabinet-clears-rs-969-crore-investment-proposals-closure-of-plantation-corporation/
Category: NATIONAL,News Alert,REGIONAL
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Publish Date: 2025-08-27 21:27:00
