Companies exploring mining prospects in Madhya Pradesh could benefit if sufficient value addition is done in the State.
This is the salient feature of the new investment policy unveiled by the Chief Minister Shivraj Singh Chauhan.
Madhya Pradesh inked over 20 investment agreements worth Rs. 1,20,647 crore at the Global Investor Summit II held recently. While 16 MoUs were signed for industrial projects, four were in the energy sector.
The sixth investor meet saw the State offering land at concessional rates besides fiscal incentives such as exemption of Mandi fee and reimbursement of VAT under the New Industrial Promotion Policy 2010 to be effective from November 1.
Cautioning the industry not to take the MoUs lightly, the Chief Minister said if no follow-up action is taken within two years, the MoUs can be cancelled.
“We are here to attract investments and earn revenue and generate employment,” he added.
UltraTech, NTPC Thermal Power Plant, Videocon Industries, GAIL (India) and Essar are some of the major companies that announced new investments in sectors such as energy, mining, cement, ferro alloy, and white goods.
Rio Tinto signed a State Support Agreement for the Rs. 2,300-crore diamond mining project in Chhatarpur.
The Delhi-Mumbai Industrial Corridor and the Madhya Pradesh Government’s Trade & Investment Facilitation Centre (TRIFAC) signed agreements for investments worth Rs. 33,147 crore. The projects include the 22-km Indore-Pithampur Economic Corridor and Knowldege City in Ujjain.
NTPC Thermal has inked an agreement for setting-up a 3,960-MW project for Rs. 20,000 crore. UltraTech signed three MoUs for projects worth Rs. 6,000 crore.
The company wants to set up three cement plants of 2.5 million tonnes per annum and two 3.5 million tonnes per annum capacity respectively.
Speaking on the occasion, Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, that his company was looking at an investment of about Rs. 20,000 crore for setting-up three greenfield cement plants and one aluminium smelter in the State.
Essar signed two MoUs for setting-up a five million tonnes per annum cement plant and a ferro alloy plant for a commitment of Rs. 2,450 crore. Videocon Industries signed two agreements worth Rs. 18,500 crore for a white goods project and a 3,600-MW power project.
Other companies that signed MoUs include Jayprakash Associates for investments worth Rs. 1,850 crore in sectors such as cement and power.
GMR Budelkhand proposes to set-up a 1,980-MW power project for an investment of Rs. 14,000 crore. GAIL (India) has signed an agreement for setting up a gas extraction and processing unit as well as power plant in the State with an investment of Rs. 4,900 crore.
This is the salient feature of the new investment policy unveiled by the Chief Minister Shivraj Singh Chauhan.
Madhya Pradesh inked over 20 investment agreements worth Rs. 1,20,647 crore at the Global Investor Summit II held recently. While 16 MoUs were signed for industrial projects, four were in the energy sector.
The sixth investor meet saw the State offering land at concessional rates besides fiscal incentives such as exemption of Mandi fee and reimbursement of VAT under the New Industrial Promotion Policy 2010 to be effective from November 1.
Cautioning the industry not to take the MoUs lightly, the Chief Minister said if no follow-up action is taken within two years, the MoUs can be cancelled.
“We are here to attract investments and earn revenue and generate employment,” he added.
UltraTech, NTPC Thermal Power Plant, Videocon Industries, GAIL (India) and Essar are some of the major companies that announced new investments in sectors such as energy, mining, cement, ferro alloy, and white goods.
Rio Tinto signed a State Support Agreement for the Rs. 2,300-crore diamond mining project in Chhatarpur.
The Delhi-Mumbai Industrial Corridor and the Madhya Pradesh Government’s Trade & Investment Facilitation Centre (TRIFAC) signed agreements for investments worth Rs. 33,147 crore. The projects include the 22-km Indore-Pithampur Economic Corridor and Knowldege City in Ujjain.
NTPC Thermal has inked an agreement for setting-up a 3,960-MW project for Rs. 20,000 crore. UltraTech signed three MoUs for projects worth Rs. 6,000 crore.
The company wants to set up three cement plants of 2.5 million tonnes per annum and two 3.5 million tonnes per annum capacity respectively.
Speaking on the occasion, Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, that his company was looking at an investment of about Rs. 20,000 crore for setting-up three greenfield cement plants and one aluminium smelter in the State.
Essar signed two MoUs for setting-up a five million tonnes per annum cement plant and a ferro alloy plant for a commitment of Rs. 2,450 crore. Videocon Industries signed two agreements worth Rs. 18,500 crore for a white goods project and a 3,600-MW power project.
Other companies that signed MoUs include Jayprakash Associates for investments worth Rs. 1,850 crore in sectors such as cement and power.
GMR Budelkhand proposes to set-up a 1,980-MW power project for an investment of Rs. 14,000 crore. GAIL (India) has signed an agreement for setting up a gas extraction and processing unit as well as power plant in the State with an investment of Rs. 4,900 crore.
Next Story
