Massive investments lined up for Rajasthan

June 24th, 2008 - 8:46 pm ICT by IANS  

New Delhi, June 24 (IANS) With over 312 new industrial areas, of which 100 fall on the proposed Delhi-Mumbai freight corridor, the Rajasthan government has been able to attract investments over Rs.1.58 trillion for the next three years. The state has the potential to emerge as an energy and education hub in the near future and efforts were on to attract more investors, Rajasthan State Industrial Development and Investment Corporation (RIICO) managing director Kuldeep Ranka said.

“We offer them good concessions and rebates. Rajasthan offers a very suitable environment required for any industry to flourish,” Ranka told IANS here Tuesday.

Some Fortune 500 companies like Coca-Cola, Gillette, McDonald’s and Ford besides reputed companies like Chambal Fertilizers and Chemicals, DCM Sriram, Ericsson, Federal Mogul, MICO, Royal Enfield and Shyam Telelink have set up plants in the state.

“More such firms have lined up investments in the state, as we offer good incentives,” said a RIICO official.

The RIICO has also developed theme-based industry parks such as the special economic zones (SEZs) at Jaipur, Jodhpur and Neemrana (under development), IT parks at Jaipur, Jodhpur, Kota and Udaipur, EPIP at Jaipur and Jodhpur, agro food parks at Kota, Jodhpur and Sriganganagar, apparel park at Jaipur, and biotech parks at Jaipur, Jodhpur and Bhiwadi.

“There are vast opportunities of investment in these parks which offer various lucrative incentives to investors. There are other sectors which offer great opportunities for investment in the state like urban infrastructure, tourism, handicrafts, gems and jewellery, automobiles, garments and textiles, and road and bridges,” he said.

“As of now we have power generation capacity up to 490 MW in the state. But we have the resources to generate up to 5,400 MW,” he told a group of investors here earlier.

According to Ranka, the state already has an international airport at its capital Jaipur but the state government was keen to develop a greenfield airport as well.

“We have acquired 56,000 acres of land of which 26,000 acres is already operational,” Ranka said and added that the state can also be nurtured as the textile and warehousing capital of the country, owing to its access to major cities and towns in the north and the west.

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