Madhya Pradesh to set up industrial corridor panel

May 13th, 2008 - 10:07 pm ICT by admin  

Bhopal, May 13 (IANS) Madhya Pradesh Chief Secretary Rakesh Sahni will head the empowered committee to be set up by the state government to oversee the development of Rs.400 billion ($10 billion) industrial corridor, officials here said. The corridor, part of the Delhi-Mumbai corridor, will go through western Madhya Pradesh.

The decision was taken at a meeting Tuesday Chief Minister Shivraj Singh Chouhan held with officials. He also sanctioned Rs.10 million for the initial preparations of the project, said the officials.

The Madhya Pradesh Trade and Investment Facilitation Corp (TRIFAC) will be the nodal agency for setting up the project.

The government is also planning to develop an industrial area on both sides of the corridor with financial and technical cooperation of Japan.

With the new industrial projects coming up, the state government is hopeful that the employment opportunities would be doubled and production and exports would soar in the next five years.

The 1,483-km corridor between Dadri (Delhi) and Jawaharlal Nehru Port in Mumbai will go through Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra.

Japan will provide an assistance of Rs.2.42 trillion for the project under which a knowledge city will be developed near Dewas, Madhya Pradesh. A logistic hub between Indore and Dewas and a diamond park at Indore are also proposed.

Related Stories

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

Posted in Business |