Five new industrial units smile on Goa

With the Goan industrial environment looking bleak and the spectre of world recession dangling over the state, added to the alarm of the unemployment figures rising steadily, it was welcome news to hear that five new plants are coming up in the state giving some hope to the unemployed Goans as well as to the revenue streams of Goa. The five units are expected to employ around 330 people in the state.

The five industries are expected to be set up in different locations of Goa by entrepreneurs at an investment of Rs 138 crore employing over 330 people. A high powered co-ordination committee chaired by the Chief Minister Mr Digambar Kamat gave the approval for setting up these companies. The committee also gave the green signal to 14 other large industries for expansion, graduation and regularisation at a proposed capital investment of over 725 crore and an employment potential of over 1680 people in Goa.

Among the five approved industries there are two new projects ( M/S OMSO Orient Printing Machine Pvt Ltd and M/s Creative Moulds (INDIA) Pvt Ltd which are expected to be coming up at Harvalem in Bicholim. The two new companies are expected to manufacture printing machines, injection moulds and spares for the same. These companies have a capacity of employing around 23 people

The third industry is to be set up by M/s Teracom Ltd, which would manufacture insulated wire, cable/CDMA/GSM/VRLA batteries at Kundaim Industrial estate and would employ around 55 people.

The fourth industry at Codli village in Sanguem taluka is a beneficiation plant that has an employment potential of around 26 employees and is to be set up by Sesa Goa Ltd.

However the major industry among the five is that of GKB High tech lenses Pvt Ltd in Tivim Industrial estate which has a capacity to employ 223 persons thereby helping Goa's employment needs.

Despite the recession faced in the industry all over the world, this influx of industries into Goa is a welcome sign and would help the state to tide over the unemployment problems currently faced in Goa.