MP signs Rs 35,936-crore deals

MP signs Rs 35,936-crore deals

Last Updated: Mon, Oct 29, 2012 19:50 hrs

Participants at the Global Investors Summit here were pleasantly surprised at the “rocket-like” speed of the state administration to clear business proposals.

A five-star hotel has become the makeshift secretariat of the Madhya Pradesh government during the two-day summit. Work was on 24x7 to facilitate meetings between the government officials and investors.

On Sunday night, the officials, especially of the industries department, reviewed preparations for the inaugural function of the meet at Labh Ganga Convention Centre, situated close to the hotel. Hindustan Copper and SEL Manufacturing expressed surprise at the speed with which their proposals were scanned by the state government officials. The investors signed memoranda of understanding (MoUs) at 12 midnight.Hindustan Copper proposes to invest Rs 2,000 crore at Balaghat in Madhya Pradesh. SEL Manufacturing has firmed up plans to invest Rs 7,000 crore in the state. A visibly charged chief minister, Shivraj Singh Chouhan, and the additional chief secretary (industries), P Dash, said they were happy at the flow of investors and their confidence in the leadership and administration.

“There is a single-table model, where any investor can meet me on Monday with my officials to discuss investment proposals and the problems faced by them. There is no donation business. All decisions are taken in a transparent manner,” said Chouhan. During the first day of the summit, Reliance ADAG Chairman Anil Ambani announced an investment of Rs 20,000 crore in power and cement, in addition to the proposed Rs 30,000 crore in coal mining, power and cement sectors in the state. The company would soon enter into an MoU with the state government.

Similarly, Procter & Gamble CEO Shantanu Khosla also announced an investment of Rs 1,000 crore in health care. This is in addition to a plant in operation near Bhopal.

Further, the government signed MoUs worth Rs 24,370 crore in integrated steel, food processing, urea production, hospital and auto components sectors. Some of the agreements signed include Amtek Metal & Mining for an integrated steel plant and an auto park (Rs 9,000 crore); Future Ventures for an integrated food park (Rs 2,500 crore); SAIL for an iron ore beneficiation plant (Rs 5,000 crore); Zuari Fertilisers & Chemicals for urea production (Rs 5,150 crore); Bharat Forge for an auto component plant (Rs 1,880 crore); DMUL Asia Solar Energy for a 100-MW project (Rs 1,000 crore); Cadbury India (Rs 550 crore); TCS for an IT unit (Rs 410 crore); Hudco for infrastructure project (Rs 2,000 crore).

During the session on infrastructure development, the government signed facilitation MoUs worth Rs 11,566 crore, apart from Hudco’s investment to strengthen urban water supply and urban infrastructure.

More from Sify: