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

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DUBAI: The J&K government on Friday signed an MoU with UAE’s pioneering financial services company, Century Financial that will invest $100 million in the Union Territory. The MoU was signed in a special event presided by the Lieutenant Governor, Manoj Sinha.

The investment will cover 3 hotels and one commercial cum residential complex in Jammu & Kashmir. The owner of Century Financial Bal Krishen is originally a native of the Doda district of Jammu and has been a forerunner in supporting his home region.

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.

Speaking on the occasion, Lieutenant Governor, Manoj Sinha said that Prime Minister Narendra Modi was committed to the development of the Union Territory of Jammu & Kashmir.

“We are happy to see the interest shown by UAE’s big business houses and leaders in supporting this vision of our honorable Prime Minister.  Global business & industry are waking up to the vistas of opportunity in J&K,” LG said.

He said, “Despite challenges of 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.”

“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 realized, it’s immensely gratifying” said Bal Krishen.

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