In a major boost to industrial development in the state, the leading Japanese company Toppan Speciality Films Private Limited (TSF) on Wednesday signed Memorandum of Agreement with the Punjab Government led by Chief Minister Bhagwant Singh Mann to invest Rs 400 crore in the state as a part of their expansion plan.
Giving the details, the Chief Minister, who is on tour to Japan, said that TSF and Invest Punjab has agreed to support and collaborate in initiating a Skilling Excellence Centre in Punjab, to provide utmost level of training and development of skilled/ semi-skilled persons/ workers/ youth. He said that this will be pivotal for strengthening industry-relevant skills and enhance employability opportunities within the State of Punjab. Giving details of areas of Collaboration Bhagwant Singh Mann said that it will give thrust on imparting training aligned with current and emerging industry needs.
Likewise, the Chief Minister said that it will also focus on high-end and technical skills not widely available and imparting training certifications to meet industry and global standards. He said taut the MoU will also facilitate Apprenticeship opportunities and consideration for absorption in TSF’s and other large scale industries in and around Punjab & across India.
Bhagwant Singh Mann said that it will also lay thrust in academic collaboration in terms of joint development and delivery of training with a Polytechnic/Technical Institute. The Chief Minister further said that TSF will also provide financial assistance, technical inputs, training support, and curriculum designing based on needs of industry.
Likewise, he said that it will also facilitate apprenticeships and consider suitable trainees for employment. Bhagwant Singh Mann said that due to strenuous efforts of the state government TEF has formally expressed its intent to expand its existing manufacturing facility in Punjab with an estimated investment of approximately Rs 400 Crores.
The Chief Minister said that the investment aims at enhancing capacity, facilitating fresh employment, integrating advanced technologies, and strengthening their long-term presence in India. He said that the objective of investment is Capacity expansion, Increase Employment Opportunities and technology enhancement as TSF has reaffirmed its long-term commitment to the state.
Bhagwant Singh Mann assured fulsome support and cooperation to the TSF for their operations and expansions in the state. Meanwhile, sharing their experience of operating in the state, the TSF group said that it has been characterised by a strong industry government partnership, seamless facilitation, high-quality workforce availability, stable power supply, and a consistently investor-friendly environment.
They said that the group looks forward to further strengthen this partnership through their proposed expansion in the state. They expressed continued support from the Government of Punjab and Invest Punjab to facilitate necessary approvals and operational requirements for this project.