J&K Govt signs MoU with Century Financial for $100 million investment in Jammu & Kashmir

Srinagar (Jammu and Kashmir) [India], January 8 : The Jammu and Kashmir Government on Friday has signed an MoU with Century Financial in Dubai for a $100 million investment in the state under which hotels and commercial-cum-residential complexes would be built.
The MoU was signed in a special event presided by the Lieutenant Governor, Manoj Sinha. "Global business & industry are waking up to the vistas of opportunity in J&K. Hon'ble Prime Minister Shri Narendra Modi is committed to the development of the Union Territory of Jammu & Kashmir", said J&K Lieutenant Governor, Manoj Sinha while speaking on the occasion. "We are happy to see the interest shown by UAE's big business houses and leaders in supporting this vision of our Hon'ble Prime Minister."
"I have always believed that Jammu & Kashmir has tremendous investment potential and there cannot be a better time than now. Making a significant contribution to my home region has always been my dream and today as I see this dream getting realised, it's immensely gratifying" said Century Financial's owner, Bal Krishen.
"The investment will cover 3 hotels and one commercial- cum-residential complex in Jammu & Kashmir. The owner of Century Financial Bal Krishen, originally a native of Jammu and Kashmir's Doda district has been a forerunner in supporting his home region", stated a release.
The MoU was signed by Principal Secretary, Industries, J&K, Ranjan Prakash Thakur and Bal Krishen, Owner of Century Financial in the presence of Aman Puri, Consul General of India in Dubai and several distinguished UAE-based business owners, investors, and entrepreneurs.
"Despite challenges of a global pandemic, neither the pace of economic and policy reforms nor the implementation of key infrastructure projects has slowed in any way in UT and we as responsive administration will continue to respond to business's concerns", said the Lt Governor.