Over Rs 18,000 crore investment proposals cleared in MP

Bhopal, July 20 (UNI) Aimed at encouraging industrial investment in Madhya Pradesh, investment proposals worth Rs 18,925 crore were accorded sanction by the Project Clearance and Implementation Board (PCIB).

The proposals, which would provide employment to about 15,500 people, were cleared within two months in just three sittings paving way for execution of various projects.

Chief Minister Shivraj Singh Chouhan had constituted the PCIB as a part of a decision to enforce single-desk system for time-bound disposal of industrial investment proposals, an official release here said.

The projects included the Rs 18,000-Aluminium Smelter Project proposed by the M/S Hindalco Industries Ltd in Sidhi district and a Rs 233 crore project for setting up a textile unit at Simrai village in Raisen district by the Nahar Spinning Mills Ltd.

Besides, a proposal by M/S Reliance Industries Ltd to set up 100 farm fuel outlets for ensuring availability of diesel in rural areas had been cleared. The Food and Civil Supplies and Revenue departments had released necessary orders in this regard.

A recommendation has been made to the Centre for setting up ITSEZ at Indore at an investment of Rs 243 crore by the M/S Parashwanath Developers Ltd. The Centre has approved the proposal.

The PCIB has issued directions to revenue, housing, environment and commercial taxes departments to issue orders and notifications related to the MP Heritage Tourism Policy in time bound period.

Meanwhile, the empowered committee cleared land and tax related proposals under MP's Industries Promotion Policy for 10 industrial units entailing an investment of Rs 2,164 crore at a meeting chaired by Chief Minister Shivraj Singh Chouhan here yesterday.

The proposals included land allotment for proposed the Nahar spinning mill project in Raisen and exemption from electricity cess for Rs 150 crore-Malanpur captive power unit at Malanpur in Bhind district.

Besides, other proposals included Rs 13 crore-food processing unit of VRS Food Limited, Rs 51 crore-Kamal Cotspin unit at Burhanpur, Rs 42 crore Kataria Industries at Ratlam, and Rs 957 crore textile unit of Abhishek Industries at Budni (Sehore), Rs 676 crore JP Associates' cement factories at Rewa and Bela, Rs 70 crore Transworld Textile unit at Pithampur (Dhar) and Rs 32 crore Crompton Grieves expansion unit at Mandideep (Raisen), the release added.

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