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Punjab dumps Reliance for non-compliance of MoU

August 25, 2009


Punjab is the richest state for Agriculture in India. Reliance known for mega world class projects in refineries had planned it really big and had signed an agreement with former Punjab State Government to setup 52 rural hubs and over 250 sub-hubs across 18 districts of Punjab to facilitate cultivation and retail of fresh farm produce.

The state government terminated the MoU as Reliance has failed to comply with the agreement. Reliance was supposed to invest Rs 3,000 cr in setting up infrastructure, cold storage, logistics and work with agriculturists and retailers. The state government had even promised 1,000 acres of land to Reliance as though its their grandfather inherited property.

Reliance didn’t seem to be interested in the venture as its spokesman arrogantly told the press that the venture was in initial phase and will have no impact.

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