Rs 48,626 cr to be invested in Chhattisgarh

Raipur, Aug 9 (UNI) The Chhattisgarh government and industrial groups have inked memoranda of understandings (MoUs) for investing Rs 48,626 crore to set up or expand cement and steel plants in the state.

In the presence of Minister of State for Industry Rajesh Munat, the MoUs were signed here yesterday by Secretary (Industry) P Ramesh Kumar and industrial groups' representatives.

A sum of Rs 5,865 cr would be pumped in for establishing nine cement plants and Rs 42,761 cr for setting up or expanding 20 steel projects thereby generating employment for about 40,000 people.

The investors announced that two industrial training institutes would be opened.

The Minister urged the groups to begin work at the earliest.

For cement plants, Jaiprakash Associates Ltd would pump in Rs 1,005 crore, Kasturi Cement Private Ltd Rs 150 crore, K P Cement Rs 325 crore, MSP Power and Steel Ltd Rs 600 crore, Shyam Century Infrastructure Ltd Rs 550 cr and Ultratech Cement Ltd Rs 1,100 crore.

On the steel front, Jindal Steel and Power Ltd would invest Rs 18,300 crore, Visa Steel Ltd Rs 4,750 crore, SKS Ispat and Power Ltd Rs 3,611 crore, Surya Global Steel Rs 3,000 crore, Jaiswal Nico Ltd Rs 2,020 crore, Nalwa Steel and Power Ltd Rs 3,100 crore and Godavari Power and Ispat Ltd Rs 1,570 cr. They are among 20 investors in the sector.

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