Bihar clears investment proposals worth Rs.910 bn in three years

December 3rd, 2008 - 5:36 pm ICT by IANS  

Patna, Dec 3 (IANS) In a clear sign of the “changing economic environment” in the state, the Bihar government has cleared 156 investment proposals worth Rs.910 billion in the last three years, Industries Minister Dinesh Chandra said Wednesday. “It’s a positive news for the state that all these proposals were approved by the State Investment Promotion Board (SIPB),” Chandra told IANS.

According to him, Chief Minister Nitish Kumar’s efforts to make Bihar an investment-friendly state has proved to be a success with more investors now approaching the state for setting up their units.

The proposals cleared by the state include setting up of 19 power plants, 23 sugar mills, 18 food processing units and 16 steel processing and cement manufacture plants.

Besides, several existing sugar mills are planning major expansion and production of ethanol.

“It is a big step for the changing Bihar. We firmly believe that the projects would create job opportunities for more than 100,000 people,” Chandra said.

He added that the government was now regularly receiving new investment proposals from industrialists.

Sources in the industry department told IANS that the government has already started acquiring land for some projects.

An official at the Chief Minister’s Office said several investors had shown interest in the knowledge sector also. “Till now, proposals for 17 engineering and medical colleges and management institutes have been cleared,” he said.

However, Chief MInister Nitish Kumar said Nov 24, the third anniversary day of his government, that some power projects were not taking off due to several problems.

The state cannot set up thermal power plants without assurance from the central government of coal supply, he said.

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