Rs 84,000 cr projects on in Madhya Pradesh
Mumbai, May 16: Madhya Pradesh Minister of Industry today invited businessmen from Mumbai to explore investment prospects in the state, saying it offers them cheapest land, single-table clearance of project proposals, low-wage but efficient and peaceful labour force, and a very healthy and industry-friendly administrative environment.''
MP Minister Babulal Gaur was addressing a luncheon meeting of industrialists organised by the Indian Merchants' Chamber, here yesterday. Industrial investments to the tune of about Rs 84,000 crore are in various stages of implementation in Madhya Pradesh which has today emerged as one of the most economically vibrant states in the country, said Mr Gaur who also holds Commerce portfolio along with Industry.
Mr Gaur was accompanied by Mr O P Rawat, Principal Secretary (Commerce&industry), MP, and Mr Pratap Verma, Advisor (Investment&Industrial Promotion), MP Industrial Development Corporation, and other senior bureaucrats.
The minister revealed that Madhya Pradesh, which was now power-deficient ''will become a surplus power state within a year'' as it would begin generating about 1,500 MW additional hydel power.
''By 2008, we will be providing 24-hour power supply to farmers.
Even as of today, our state has been supplying power to industries round the clock,'' Mr Gaur said.
He further revealed that one of the companies of the Ambani group has decided to invest Rs 2,500 crore for production of methane gas from coal mines as fuel for downstream industries. ''Our state will be manufacturing hydel turbines for hydel projects very soon,'' he said.
The state is also developing a textiles hub at a cost of Rs 10,000-crore With help from the Central government, he said.
Mr Pratap Verma, in his presentation, said that dozens of large business houses had committed investments to the tune of Rs. 84,000 crore which were in various stages of implementation.
Among these were Bharat Oman Refinery (Rs. 10,300 cr), Hindustan Aluminium (Rs. 18,000 cr) in phases, Sanghi Industries Cement Unit, Force Motors (Rs. 700 cr), Vardhaman Group (Rs. 1,900 cr), Pratibha Group, ITC Ltd., Abishek Industries, Thapar Group, GMR group, Essar, Jindal India, Jay Pee Power etc., he pointed out.