SRINAGAR, Mar 19: Jammu and Kashmir Lt. Governor Manoj Sinha laid the foundation stone of a mega-mall on Sunday in Sempora area of Srinagar district which is the first direct foreign investment project in the UT.
The construction of the mega-mall will cost Rs 250 crore, Sinha told reporters.
“The Mall of Srinagar and allied projects with the Government of Dubai will fuel the economic growth of J&K and bring us closer to achieving the shared vision of strengthening bilateral trade and investment ties between India and UAE.
“This is a new dawn of limitless possibilities. We are taking forward Hon’ble PM’s vision for development of J&K. Mall of Srinagar will have transformative impact on UT & boost infrastructure, employment generation and ease of living.
“This is to be one of the largest malls in the region, the mall will have over 500 shops,” Sinha said while congratulating the people of J&K on the historic occasion.
He said the credit for the strong ties between UAE and India goes to the strenuous efforts of the Prime Minister.
The Lt Governor highlighted the progressive reforms introduced under the guidance of Hon’ble Prime Minister to create a favourable environment for Industries and Business to flourish in J&K.
“Unprecedented Industrial investment & economic growth of J&K is laying the foundation for a stronger and more prosperous future for the people of Union Territory.
“Within 22 months of implementation of New Industrial Policy, we have received investment proposals from more than 5,000 domestic and foreign companies. Every day, eight companies have expressed their willingness to invest in J&K, the Lt Governor noted.
