(News) Rs 1,20,637 crore promised for MP in Khajuraho Summit-II

Rs 1,20,637 cr promised for MP in Khajuraho Summit-II

In a veritable bonanza for Madhya Pradesh, day one of the Global Investors' Summit-II at this world-renowned tourist destination witnessed inking of 22 memoranda of understanding (MoU) worth Rs 1,20,637 crore -- no wonder Chief Minister Shivraj Singh Chouhan and others wore beaming smiles.

The first MoU, amounting to Rs 33,147 cr, was signed between Delhi-Mumbai Industrial Corridor officials and the state Trade and Investment Facilitation Corporation and aims at infrastructure development. UltraTech Cement inked three MoU -- totalling Rs 6,000 cr -- for Dhar and Satna districts.

''A Rs 14,000-cr MoU was signed for a power project in Tikamgarh district,'' state Industry Minister Kailash Vijaywargiya told reporters.

Jaiprakash Associates inked five MoU -- totalling Rs 1,850 cr -- for cement and related industries. Projects envisaged include a cement plant in Satna, a cement grinding plant in Bina, a 120-MW plant in Sidhi and a soya-processing unit in Rewa.

Essar signed a Rs 2,450-cr MoU in the cement and ferro sector, Gas Authority of India Ltd inked a Rs 4,900-cr MoU, Geomysore Services India signed a mining MoU for Rs 300 cr and Khajuraho Eco Business inked a MoU linked to an integrated rural development area in Chhatarpur.

Videocon Industries signed a MoU for Budhni -- the Chief Minister's constituency -- two MoU, totalling Rs 18,500 cr, were inked for power generation in Satna and Rewa, the National Thermal Power Corporation signed a Rs 20,000-cr MoU and GMR Bundelkhand Energy inked a Rs 14,000-cr MoU for generating 1,980 MW.

Essel signed a Rs 2,970-cr MoU for generating 660 MW and Rio Tinto inked a Rs 2,300-cr MoU for mining in Chhatarpur.

CM's cautionary note to investors

 In a cautionary note to investors, Madhya Pradesh Chief Minister Shivraj Singh Chouhan today said that no tardiness will be brooked in the context of implementation of memoranda of understanding (MoU) being inked at the Global Investors' Summit-II, which got underway here today.

''In case of delay, the MoU concerned will be cancelled,'' he said at this world-renowned tourist destination--famed for its Chandela-era shrines--while inaugurating the Summit being attended by business magnates from within India and abroad.

''The state's growth rate has almost touched 9 per cent and I desire to take it beyond the 10 per cent mark for which a roadmap is ready. I urge industries to endeavour to provide employment to at least 50 per cent of the local populace,'' the Bharatiya Janata Party leader said.

Pointing out that industries worth Rs 36,000 crore had seen light of day as a result of MoU signed at the Indore investors' summit three years back, he added that MoU amounting to Rs 20,000 cr will be fully implemented this fiscal even as work progresses rapidly on MoU worth Rs 1,28,000 cr.

''By 2013-14, Madhya Pradesh will emerge as a power-surplus state. Henceforth, mining leases will be provided only to those who bring about value addition in the state. My government has a land bank reserve of 20,000 hectares that will be provided to industries,'' Mr Chouhan said.

From Rs 100 to crores: The story of Jaypee Group

 ''Fifty years back, I came to Madhya Pradesh with a mere Rs 100 but now my industrial units worth crores are present not only in this state but in several other places in the country and abroad,'' said. Jaypee Group Founding Chairman Jaiprakash Gaur he was narrating his success story at the Global Investors' Summit-II, which got underway today at this world-renowned tourist destination -- famed for its Chandela-era shrines -- and is being attended by business magnates from within India and abroad.

''My Group is investing more and more in this state,'' said Essar Group Chairperson Shashi Ruia while Associated Chambers of Commerce and Industry of India top gun Dilip Modi said that Assocham is endeavouring to invest in Madhya Pradesh and is in discussions with industrialists. Rio Tinto Global Head (International Affairs) Robert Court said that his group is prospecting for diamonds in Chhatarpur district and will make massive investment there.

Birla pats CM's back

 Aditya Birla Group Chairman Kumar Mangalam Birla today had a word of praise for social-sector schemes implemented by Madhya Pradesh Chief Minister Shivraj Singh Chouhan.

''Lopsided industrialisation is undesirable for the state's all-round development,'' the business magnate felt on the inaugural day of the Global Investors' Summit-II at this world-renowned tourist destination.

Lauding the government's approach to industrial development, he added that an investor-friendly climate has been created in Madhya Pradesh.

''The Aditya Birla Group is willing to be a partner in the state's integrated development and will invest in aluminium and cement plants,'' Mr Birla said.

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Courtesy: Centralchronicle.com