By Pervez Bari, TwoCircles.net
Jabalpur: The two-day International Investors’ Meet starting here at Jabalpur, a historic town in the central Indian state of Madhya Pradesh, began with a bang when on the very first day Memoranda of Understandings, (MoUs), to the tune of Rs. 10,310 crore (about US $2.5775 billion) were signed here on Friday.
Kumar Mangalam, chairman of the Aditya Birla Group who presided over the inaugural function, announced investment of a whooping Rs. 20,000 crore ( US $5 billion) in the Mahakaushal region of Madhya Pradesh. He also appealed to investors and invited them to Madhya Pradesh.
DB Power Limited would establish a 1000-MW power project at Shahdol. For this company’s representative Girish Agrawal signed the MoU. An amount of Rs. 6000 crore (about US $1.5 billion) would be invested in this project.
MoU was signed with Sanghi Energy Limited for establishing 405 MW power project at Satna with a cost of Rs. 620 crore (about US $155 million). On both the above mentioned MoUs Energy Secretary Sanjay Bandhopadhyaya signed on behalf of the government.
Euro Brand Industries chairman Neenshi L Shah signed an MoU for setting up of iron-ore based industry at Sihora in Jabalpur at a cost of Rs. 1100 crore (about US $275 million).
Mysore Cement managing director Ashish Guha signed an MoU for extension of Damoh-based cement industry at a cost of Rs. 890 crore (about US $222.5 million).
Sandhya Prakash Limited managing director Bharat Patel signed an MoU for establishing a cement industry in Satna at a cost of Rs. 700 crore (about US $175 million). From government side Audyogik Vikas Nigam Managing Director Praveen Garg signed the above mentioned three MoUs.
Speaking on the occasion Kumar -Mangalam said that his family was not new to the state and he had been prospering through his projects here. He said his grandfather GD Birla had established GRASIM industries at Nagda in 1950, which is now the largest fiber unit in the world. Madhya Pradesh is just like my home state. Since then Birla has initiated many projects including cement industry, museums and IT sector. The group employs 5000 professionals in the state and allied employment adds another 20,000 people force.
He said that in comparison to other states, development is taking place in Madhya Pradesh at much faster rate. Kumar Mangalam said that his companies would provide maximum number of jobs to youths.
Mangalam said Madhya Pradesh and Gujarat were the only states in India that were serious about industrialization and creating a investment friendly climate. The state was peaceful, avenues were great and in Madhya Pradesh, other things including central location, cheap land cost, labor in abundance and superb connectivity through road, railway and even air connectivity was improving.
Meanwhile, inaugurating the Investors’ Meet, Madhya Pradesh Chief Minister Shivraj Singh Chouhan assured the investors that the state government would solve their problems on its own initiative. The inaugural session was presided over by Aditya Birla group chairman Kumar Mangalam Birla.
Chouhan said that prosperity and development are impossible without industrialization. He said that the state government is committed to implement all the MoUs signed since Khajuraho meet. He said that setting up of new industries should be benefited to youths of the region. The Chief Minister said that industrial groups should take the initiative to get the youths of the area trained as per their requirements.
Welcoming the industrial houses which have come with the intention of investment, Chouhan said that their each and every problem would be solved. We would carve out a new way even in the midst of difficulties. Doors of conversation would always remain open. He said that the state government is bent upon conveying the benefits of progress and prosperity to the common man. He said that implementation on Rs. 60,000 crore worth MoUs out of Rs. one lakh 25000 crore MoUs signed at Indore Global Meet in October last, started which shows our dedication. He assured the industrialists that the state government would take suo moto action for solving their problems. He said that the investors would not have to bring their problems to the notice of the government.
Chief Minister Chouhan made the announcement of a new tourism circuit comprising Jabalpur Bhedaghat, Kanha, Pachmarhi, Chitrakoot and Khajuraho. He also highlighted ample industrial potential, vast natural resources and congenial situation in Mahakaushal, Vindhya, Bundelkhand and other parts of the state.
Industry Minister Jayant Malaiya said that the state government is alive to its responsibility towards each and every region of Madhya Pradesh. Jabalpur Investors’ Meet is a historic event for Mahakaushal region. He said that unprecedented results would come to the fore after tapping of immense potential of Mahakaushal, Vindhya and Bundelkhand regions of the state. The Industry Minister said that he is expecting large-scale investment in view of congenial atmosphere in these regions as well as states. Principal Secretary Satya Prakash also addressed the inaugural session. A meaningful power presentation on the state’s industrial scenario was made by MP Rajya Audyogik Viaks Nigam Managing Director Praveen Garg. Jabalpur Commissioner Anil Shrivastava proposed a vote of thanks.
Those present on the dais included Vidhan Sabha Speaker Ishwardas Rohani, Health Minister Ajay Vishnoi, Minister of State for Fisheries Moti Kashyap, Minister of State for Agriculture Harendrajeet Singh Babbu, MP Rakesh Singh, Jabalpur Mayor Mrs. Susheela Singh, Chief Secretary Rakesh Sahni, principal secretary Industry Satya Prakash and Madhya Pradesh Rajya Audyogik Vikas Nigam’s managing director Praveen Garg.
Meanwhile, 17 investors had meetings with the Chief Minister Chouhan during one-to-one meetings. These industrialists and their representatives raised their queries before Chauhan but were later said to be satisfied.
The Chief Minister later informed that discussions were positive and he expected many more investors coming in during the near future. The prominent investors who held meetings with the chief minister include Ashish Guha, managing director Heidelberg Cement Damoh, Pawan Agarwal, director APINDI Biotech Pvt Ltd Bhopal, GMS Mann, CMD, Simbhaoli Sugars, New Delhi, Dinesh Agarwal, directorGL Steel Surat, N Shah CMD, Eurobond Industries Mumbai, Suresh Agarwal, MD, MSP Steel Kolkata, Harsh Lodha, director BDO Lodha Pvt Ltd. Vijay Bothra, MD, Kohinoor Steel Pvt Ltd, Subhash Agarwal, CMD, Agarwal Indotex Ltd Mumbai, Mahesh Agarwal, director, Adhunik Corporation Limited Kolkata and others. ([email protected])