Bhopal, May 6: YES BANK, India's new age private sector Bank, has been appointed by Madhya Pradesh State Tourism Development Corporation Ltd. (MPSTDC), as Project Advisor to develop tourism and tourism infrastructure in the state. In the first phase, YES BANK has initiated two projects for the private sector to invest at Chandanpura, Bhopal and Sakaria, district Panna. The project entails development of a resort, health resort, convention centre through Private Sector Participation on 16 acres land at village Chandanpura and development of airship/ flying training school, aviation, tourism related activities on 85 acres land at village Sakaria. The Strategic Initiatives & Advisory Government (SIG) Group, of YES BANK will prepare a project concept for these initiatives and will handle the bid process management to select the best option for private sector participation.

Mr. Tushar Pandey, Country Head, Strategic Initiatives & Advisory Government (SIG), YES BANK said "Tourism is a significant enabler towards adding value to the economy of the state and a holistic approach in linking government and private sector is required. YES BANK is proud to be associated with a progressive state like Madhya Pradesh and is also working in other states of the country including Punjab and Rajasthan."

Chandanpura, on the outskirts of Bhopal , offers scenic view of Kaliyasot dam and makes a perfect site for a tourist/health resort. Panna district is located in the north-eastern part of Madhya Pradesh. Panna is picturesque place lying strategically in a valley amidst forest covered by lofty hills, and is closer to world heritage site of Khajuraho. The Government of Madhya Pradesh has identified 'Tourism' as a thrust area for holistic development and has taken several pro-active steps including an investor friendly tourism policy and preparation of master plans for various destinations in the state.

Mr. Ashwani Lohani, Managing Director, MPSTDC, said "Madhya Pradesh state believes in proactive association with private sector towards improving Tourism system in the state. We are happy to have YES BANK as our project advisor and expect to develop the sector in spirit of PPP with them."