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  1. Himachal Pradesh targets Rs 2,500 cr worth investment proposals, single-window meeting soon

Himachal Pradesh targets Rs 2,500 cr worth investment proposals, single-window meeting soon

Himachal Pradesh is all set to get investment proposals of whopping Rs 2,500 cr from half a dozen industrial giants in the textile...

Shimla | Updated: November 14, 2014 8:34 PM
 Virbhadra Singh is expected to travel to Hyderabad and Ludhiana to lure industrialists.

Virbhadra Singh is expected to travel to Hyderabad and Ludhiana to lure industrialists.

Himachal Pradesh is all set to get investment proposals of whopping Rs 2,500 cr  from half a dozen industrial giants in the textile, distilleries, pharmaceutical and automobile sectors before end of the year .

The response, which is quite an initial, is result of Chief Minister Virbhadra Singh and his high level team’s visit to Mumbai, Bangalore and Ahmedabad last week to woo industrial investors and hardsell state’s potential as an acknowledged  investment destination in the north India.

The proposals include Rs 550 cr expansion of existing unit of Vardhman Textiles group, Rs 350 crore from M/s Indorama textile, Rs 300 cr from M/s Macleods Pharmaceutical, Rs 300 cr from Torrent group and Rs 150 crore from Rock-Star distilleries. There is also a proposal M/s L-R distilleries to invest Rs 250 crores .

Industries Minister Mukesh Agnihotri, who was a co-host with Chief Minister, during the one-on-one interactions with leading industrial investors said, “I propose to write personal letters to 100 investors, who  participated in the investment meets at three place. I am asking them to sent their proposals fast. The industries department will clear new proposals in seven days and revenue department will also grant necessary approvals in 15 days time”.

Apart from investments in the industrial sectors, the investors showed keen interest in agro-processing, tourism, infrastructure projects like ropeways and hotels, education and few unexplored sectors like handicrafts based industry.

The investors like TATA group had discussions on projects ranging from setting-up of IT park to solar energy project and aerial ropeways like one Palchan to Rohtang, beside Bijli Mahadeo. The tourism department had already invited expression of interests for six projects and all investors including TATA has been told to submit their projects to the tourism department separately.

“When next meeting of the HP state single window  clearance authority (headed by Chief Minister) is convened, we have a target to approve new investments worth Rs 2500 crores”, said Agnihotri.

Another mega investment conclave is proposed for Delhi –where Himachal Pradesh will position itself as major stakeholder in country’s ‘Make-in-India’ drive. The state will  ask the industralists manufacturing their products in Himachal to write ‘ Made in Himachal’.

Industries Minister said “biggest advantage which Himachal Pradesh enjoys is its surplus power. Our power tariff  is lowest and power will be provided 24X7 with zero cut. More than 1000 MW of additional power will be added to existing availability from hydro-projects  and rates will further come down. There will be a five-year traffic freeze too”.

Himachal Pradesh till now been lacking in woo automobile bigwiz but after this months investment meets TVs group has agreed to upscale its manufacturing unit facility to roll-out its Himachal-make bikes.

Chief Minister Virbhadra Singh, in the next phase, is expected to travel to Hyderabad and Ludhiana (Punjab) to lure industrialists. “Till now, no one figured out small hill state’s potential in the industrial sector. After Chief Minister’s visit, Himachal Pradesh will also be a player for new investments in the country”, says Agnihotri.

By Ashwani Sharma

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