MOHALI: Punjab, which has been projected as the best business destination at an investors summit here, has managed to ink 117 agreements with both domestic and overseas companies involving investments of over Rs 65,000 crore.

"In last two days (of Punjab summit), we have memorandum of commitment, I have changed the word (MoU) chief minister (Parkash Singh Badal) has coined a new word memorandum of commitment (MoC)," state's deputy chief minister Sukhbir Singh Badal said.

Badal, who was addressing the valedictory session of the Progressive Punjab Investors Summit here on Tuesday, said: " ... we have MoC of 117 companies with a total investments of more than Rs 65,000 crore."

Corporate honchos like RIL chairman Mukesh Ambani had announced investment of Rs 2,500 crore on rolling out 4G in the state. Similarly, Airtel's Sunil Bharti Mittal had also announced to invest Rs 4,000 crore in Punjab on the first day of the summit. ITC had announced to set up a food processing industry while Fortis Healthcare had also promised to invest Rs 1,100 crore in healthcare sector.

Expressing satisfaction over the scale of participation in the summit, Badal further announced to hold the summit on December 9-10 next year.

Later addressing media here, he said the state government would set up three trade centres at Mohali, Amritsar and Ludhiana for holding investors summit on much larger scale.

"The work on setting up trade centre at Mohali and Amristar has begun and next year, the gathering (at summit) will be much bigger," he said.

Badal said the state government would now look at tapping more companies including overseas ones for participation in their next investors summit.

Asked whether state government will review the pacts signed with companies, he said that the state government would review the investments agreements which had been signed with the companies every month.

"Every month review meeting will be held (for these projects)," he said.

Asked about whether investors summit was targeted at coming polls, he said that the summit was never targeted at elections.

Asked whether power tariff will come down as industry complained of high energy charges in the state, Badal said the rate of basket of power will come down in future. "Even imported coal is used (in power generation), it will add only 20-30 paise a unit, Now we are purchasing power at Rs 6-7 per unit and selling at lower rates," he said.

Taking a dig at Punjab Congress, Badal said asked Congress leaders to stop making comments about SAD and state.

"They said our candidates will not win in elections in Delhi and they won ... they said nobody will come to summit and investors came ... What is the need to make any comment (for Congress leaders). You (Congress leaders) should stop making such comments," he said.

