Rs.18,500 crore investment proposal for Vidarbha

Last Updated: Mon, Feb 25, 2013 11:50 hrs

Nagpur, Feb 25 (IANS) In an overwhelming response, Maharashtra government's two-day 'Advantage Vidarbha-2013' conclave notched proposals worth Rs.18,500 crore on the first day here Monday.

The Memorandums of Understandings (MoU) for as many as 24 mega-investment proposals, including eight of the Maharashtra Industrial Development Corporation (MIDC), totally worth nearly Rs.18,500 crore were inked in the presence of Chief Minister Prithviraj Chavan and top industrialists and officials present on the occasion.

Chavan, while assuring the best of infrastructure and other facilities in the 11 districts comprising Vidarbha region of eastern Maharashtra also announced that the event 'Advantage Vidarbha' would now become an annual feature in the state's business calendar.

"Vidarbha, strategically located in the heart of India, offers excellent scope for industries, particularly textiles, agro-products, tourism, automobiles and other sectors," Chavan said.

"Under the state's New Industrial Policy, we are offering lots of incentives to industries coming up in Vidarbha and other undeveloped regions of the state. I urge industrialists to take full advantage of all this," Chavan urged in his inaugural remarks.

The chief minister listed other benefits of Vidarbha which is blessed with abundant water and power supply, lush green forests, including two tiger sanctuaries, availability of skilled labour and a salubrious industrial climate which would be attractive for industrialists to set up shop here.

Union Heavy Industries Minister Praful Patel, while complimenting the state government for organising the conclave said it would give a new direction to the industrial and financial development of Vidarbha.

Patel announced that a mega international class expo centre on the lines of Pragati Maidan in New Delhi would be set up either in Nagpur or nearby Butibori, and events like the automobiles exhibitions would be held in this region.

Speaking on the occasion, state Industry Minister Narayan Rane highlighted the New Industrial Policy declared recently which will be valid for five years.

Rane also announced the setting up of an international convention centre on 50 acres at Butibori, and assured that industries would be accorded all possible assistance to enable them set up plants in Vidarbha.

Prominent among the personalities present at the two-day conclave included Raymond Group chief Gautam Singhania, R.C. Bhargava of Maruti Suzuki, and legislators and parliamentarians from Vidarbha.

More from Sify: