Business enterprises in Tripura reap the peace dividend

Agartala, May 4(ANI): Trade and commerce in Tripura has received a major fillip,owing to decline in militancy in the region, with investors across the country converging to explore the business potential in the state.

Six companies have opted to invest in the State owned Oil and Natural Gas Company (ONGC) in Tripura as it has recorded profits for the second consecutive year.

The PSU has expanded its operations and discovered four new gas reserves at Agartala, Baramura, Gazalia and North Tripura and is also planning to set up new fertilizer units to produce urea with an investment of about Rs 5000 crores.

ONGC's 724 MW power project in Palantana is due to be commissioned soon. Once commissioned, it will provide power to Tripura and help in setting up more industries, which in turn will generate employment opportunities.

The scenario however, was quite different a few years ago, when due to insurgency, ONGC had to shut down operations as its staff was targeted on several occasions.

The recent developments though have brought cheers to the investors.

K Satyanarayana, GGM-Assistant Manager, said, "We are very much interested in investing in Tripura because of the congenial atmosphere here. It has lot of potential. The government is also proactive and these are all advantages for an investor."

Underlining the importance of peace to create a conducive business atmosphere, S K Panda, Tripura's Chief Secretary said that the increased investors' confidence was an outcome of peaceful environment over the last few years.

"Peace is the most important requirement for development. As the state has become peaceful in last few years, there has been enough development," Panda said. (ANI)