Investors promise Rs.568 bn to Madhya Pradesh

February 16th, 2008 - 11:26 pm ICT by admin  

Jabalpur, Feb 16 (IANS) The Madhya Pradesh government has signed 61 memoranda of understanding (MoUs) at the two-day investors’ meet here that would bring investments to the tune of Rs.568.3 billion ($14.3 billion) to the state, officials said. “Out of the total number of 61, nine MoUs worth Rs.9 billion are for the agriculture sector, five worth Rs.246 billion for the energy industry and three worth Rs.3.5 billion for the IT sector,” Praveen Garg, managing director of Trade and Investment Facilitation Corp (TRIFAC), told IANS.

“The other 44 MoUs worth Rs.300.6 billion were signed for investments in various sectors such as steel and power, food processing, mining of stones and minerals and cement, iron ore, energy appliances, sponge-iron, aluminium and manganese processing, sugar, waste recycling and granite,” he added.

This is the third investors’ meet organised by the state in the past two years. The earlier meets in Khajuraho and Indore had attracted Rs.1,050 billion and Rs.1,142.6 billion respectively.

“The result-oriented efforts by the state government have borne fruits. With this meet’s agreements, the government has reached deals with world’s established and leading industrial groups on 181 investment proposals worth Rs.2.16 trillion,” Garg said.

The state government had invited more than 700 industrialists from across the world. More than 190 industrialists have reached Jabalpur to participate in the meet.

Twenty delegates arrived from Hong Kong, U.K., Canada and Ireland. Besides, 200 new entrepreneurs from Vindhya, Mahakaushal and Bundelkhand regions also took part in the meet with great zeal and enthusiasm.

The meet also showcases Vikas Pradarshani (exhibition on development) organised by the industries department at the historical Garrison Ground to display the development of the state.

A special theme pavilion to showcase the progress and investment opportunities in the state was the main attraction of the meet.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |