Madhya Pradesh attracts investment proposals worth Rs.295.5 bn

April 11th, 2008 - 7:16 pm ICT by admin  

Sagar (Madhya Pradesh), April 11 (IANS) The Madhya Pradesh government Friday succeeded in attracting investment proposals worth nearly Rs.295.5 billion at a state sponsored investors’ meet here. Inaugurating the meet, Chief Minister Shivraj Singh Chouhan called upon the investors to come forward and take advantage of the state’s industry-friendly policies.

“I am prepared to simplify the taxes, if need be, and even change the laws if they are any hurdle in the industrial development of the state,” Chouhan told the gathering of over 100 investors and company representatives from India and abroad.

Meghalaya Cement Ltd and JK Cement signed memorandums of understandings (MoUs) for cement plants with planned investments of Rs.45 billion and Rs.25 billion respectively. Kohinoor Limes also agreed to set up cement and power plants in Jhabua district for Rs.21 billion.

Similarly, Valley Iron and Steel Company Ltd signed an MoU for a steel and iron plant and Realtek Ltd of Delhi inked an agreement for a cement plant worth Rs.10 billion each.

The other areas of investment for which MoUs were signed include mineral-based projects, food processing and agro-based industries.

Prior to this investor meet, the state government had organised industry-government interactions at Khajuraho, Indore and Jabalpur towns of the state.

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