Punjab to terminate Omaxe project agreementJune 18th, 2011 - 1:23 pm ICT by IANS
Chandigarh, June 18 (IANS) The Punjab government Saturday decided to terminate an agreement with realty giant Omaxe for construction of a multi-million integrated township at Patiala, a spokesperson of the chief minister’s office here said.
“The Punjab government today decided to issue a project termination notice to M/s Omaxe Ltd. which had been selected for an integrated township project at Baran, Patiala, through bidding in 2006,” the spokesperson said.
The decision was taken during a meeting of the Patiala Development Authority (PDA), chaired by Chief Minister Parkash Singh Badal here Friday.
The spokesman said that according to the agreement, Omaxe failed to give employment to 1,000 people in the IT and bio-tech sectors by the end of third year from the commencement date — Aug 9, 2006.
He said that another 3,000 people were to be given employment by the end of the fourth year while a minimum 1.5 lakh square feet area of the township had to be developed along with the IT and bio-tech sectors.
The spokesperson said that now the entire development of the project at Patiala, around 80 km from here, would be executed by the Punjab Urban Development Authority (PUDA).
The township project was allotted to Omaxe after bidding by the previous Congress government in Punjab led by Amarinder Singh.
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