Backward Madhya Pradesh region gets Rs.180 bn investment

April 26th, 2008 - 4:12 pm ICT by admin  

Bhopal, April 26 (IANS) Madhya Pradesh’s Bundelkhand region may soon shake off its ‘backward’ tag as projects worth nearly Rs.180 billion are slated to come up, agreements for which have been signed in the past three years. “The Madhya Pradesh government has in the past 18 months signed 217 MoUs (memorandums of understanding) promising an investment of Rs.245,919 crore (over Rs.2 trillion) across the state in sectors ranging from production of cement to generation of power,” an officials release said late Friday.

As many as 102 MoUs worth Rs.1.2 trillion were signed at the Indore investors summit, 61 MoUs worth Rs.568 billion at the Jabalpur investors meet and 36 agreements to the tune of Rs.295 billion were inked at the Sagar investors meet.

Of these, projects worth Rs.178 billion are slated to come up in the Bundelkhand region with the biggest worth Rs.103 billion - a six million-tonne crude oil refinery at Agasod in Bina district.

The region got an investment promise of Rs.21 billion at the Indore summit when Ind Agro Synergy Ltd of Bhopal agreed to set up an 80 MW power plant and 150,000-tonne iron enrichment plant at Purena industrial area in Panna district.

An agreement worth Rs.22 billion for setting up an integrated steel plant and power plant at Pathariya in Damoh district was signed with SPJ Steel and Minerals Pvt Ltd, Kolkata at the Jabalpur meet, the release said.

Another MoU worth Rs.8.5 billion was signed with Diamond Cement, Damoh for establishing a 250 metric tonne cement plant at Damoh.

Major projects that are to come up in Bundelkhand region, going by the agreements signed, also include an iron plant and captive power plant in Sagar with Rs.10 billion investment by Rashmi Cement Ltd. Kolkata, and a Rs.800 million iron and benefaction plant to be established by MSP Metallics, Kolkata.

Besides, sugar, ethanol and captive power plants would be also be set up at Patna Kakri village in Sagar district.

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