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12:04 pm - Tuesday November 21, 2017

Investment Bonanza

In the 5th Global Investment Summit the Madhya Pradesh received the 2630 proposal for Rs.5,62,847 crores for investment in the Madhya Pradesh. Around 4000 investors of 42 countries took part in the Summit. The Chief Minister Mr.Shivraj Singh Chouhan on the concluding day announced the date and venue of the next 6th Global Investors Summit to be held at Indore again on February 16 and 17 in the year 2019.

The Madhya Pradesh is leading state in India in agriculture with growth rate of 20 per cent – the highest in India. The Chief Minister Mr.Chouhan now striving hard to make the Madhya Pradesh a leading state in the industrial growth also. Being centrally located the previous Central Government of Congress already set up a petro oil refinery in collaboration with the Oman at Agasod near Bina Railway Junction. Now at Indore Summit the Union Petroleum Ministry has decided to set up green refinery worth Rs.500 crores at Bina itself. The ministry in total will invest 20,000 crores of rupees in the state.

The Indian Oil, NTPC, and Oil India will set up 500 megawatt Solar plan, invest Rs.1700 crore in the development of infrastructure in petro sector. In Mandla district a nuclear power plant is being set up by the Central Government at the investment of Rs.25000 crores. The State is already having thermal, hydro, solar and wind energy and with Mandla nuclear plant it will have all energy sources in the state. The availability of 18900 megawatt electricity in the state itself a record and state is surplus in power.

The state has offered red carpet welcome to investors and there will be no red tapism. The big investment promises were made by the Nuclear Power Corporation, Birla Group, Indian Oil, Syntex, Proctor and Gamble, Mylan Laboratories, Lupin India and Germany Hettich. Mr.Chouhan made a big announcement never made anywhere so far that the investors will be compensated if there was even a day’s delay in giving approval.

The officer responsible would be penalized and the state would recover compensation amount from him. The Chief Minister had one to one meeting with many investing industrialists on policy issues and facilities. Baba Ram Dev after establishing his Patanjali Venture in Ayurvedic formulations in Uttar Pradesh. In Madhya Pradesh besides herbal Ayurvedic medicine he has announced to enter in textile sector in Madhya Pradesh.

Posted in: Editorial

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