MP signs 4 MoUs worth Rs 57k cr for core growth

Written by Vrishti Beniwal | Indore, Oct 26 | Updated: Oct 27 2007, 06:06am hrs
With less than a year left for election, the Madhya Pradesh government finally woke up to investments. On Friday, the state government signed four memorandum of understanding (MoUs) worth Rs 57,400 crore at the inaugural function of the two-day global Investors meet.

The first MoU was signed with Anil Ambanis Reliance Power Ltd, which will set up a 3,960-mw ultra mega power plant at Sasan in Sidhi district.

Besides, the company will set up four cement manufacturing plants each with capacity of around 5 million tonne per year.

The other MoUs were signed with Sanghi Industries and TRIFAC for a greenfield cement plant of 7 million tonne per annum with an investment of Rs 5,000 crore; with ACC Ltd to set up a 2.2-mtpa cement plant at a cost of Rs 1,200 crore; and with Birla Corporation for a Rs 1,200-crore plant of 3 mtpa capacity.

Chief minister Shivraj Singh Chouhan said the state government would develop infrastructure for rapid industrialisation while inviting industrialists to set up ITIs in the state to ensure availability of trained manpower as per their requirement. Reliance ADAG chairman Anil Ambani said he would set up a Dhirubhai Ambani Institute of Communication to develop Bhopal as a major education campus.

Calling upon investors to make maximum possible investment in the state, Chouhan said rules, procedures and laws would be suitably amended and fine-tuned to suit the investors and industrialists. The MoUs signed at the Khajuraho Investors meet last year have already started taking concrete shape, he added.

The draft Food Processing Policy of Madhya Pradesh was also presented to the investors for discussions. After incorporating their suggestions, the policy will be sent for Cabinet approval to make it a part of the Industrial Promotion Policy. The chief minister also ensured a serious consideration on multiplicity of taxes and Facilitation Act.