Investors meet targets Rs 75,000 cr MoU

Indore, Oct 25 (UNI) With an optimism to sign memoranda of understanding for investment of about Rs 75,000 crore in Madhya Pradesh, the two-day global investors meet begins in this buzzling commercial town tomorrow.

A red-carpet welcome was unrolled for investors who had started arriving in this city, which was given a facelift for the occasion.

Four industrialists from the United States and one from Hong Kong had already arrived, official sources said.

Reliance group chief Anil Ambani and IPCA Lab Managing Director M R Chandurkar are among 400 industrialists who had confirmed their participation, though invitations had been extended to about 1500 entrepreneurs.

Giving an indication of the thriving industrial environment, Chief Minister Shivraj Singh Chouhan yesterday laid the foundation stone for a Rs 927 crore cloth unit in Budhni, part of his Assembly constituency. He is also scheduled to perform 'Bhumipoojan'or inauguration of five units costing Rs 225 crore in industrial areas here.

A presentation about the state's growth potential will be made before industrialists about the scope in various sectors- tourism and civil aviation, housing and urban development, automobiles, spare parts, pharmaceuticals, cloth and garments, technology and higher education, infrastructure, agriculture, food processing, medicinal and herbal farming, logistics and warehousing, electricity, health and medical tourism.

Official sources said there was probability of maximum investment in energy and immovable property sector. An agreement for Reliance Energy head Anil Ambani's electricity project is expected.

''A roadmap of investment potential would be unveiled before the investors'', said Industry Minister Jayant Malaiya, adding they would also be taken on conducted tour of the nearby special economic zone and Peethampur industrial area.

Claiming that infrastructure available in the state is better at present but admitting some drawbacks, he said merits like better environment, trained manpower and industrial peace were expected to impress the investors.

The global investors meet is being held ahead of next year's Assembly election with the ruling BJP attaching great significance for its success.

UNI