Madhya Pradesh expects to attract over Rs.27 bn investment


Indore : The Madhya Pradesh government Wednesday said it expects to sign memorandums of understanding (MoUs) worth Rs.27.43 billion during the July 29-30 investors meet in Gwalior.

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Industry Minister Jayant Malaiya said in a statement issued here that of the 300 investors invited from outside the state, about 100 had confirmed that they would participate in the meet.

Among the industrialists who will be participating in the event are chairman of Fenner India Ltd Raghupati Singhania, D.K. Mittal of Mumbai-based I.L. & F.S. Infrastructure Corporation Ltd, regional vice-president of Delhi-based Rio Tinto Private Limited N. Nick Senapati, managing director of Hero Aviation Private Limited Pankaj Munjal, managing director of Ispat India Vinod Mittal and Associated Chambers of Commerce and Industry of India’s (Assocham) Sajjan Jindal.

Malaiya said projects worth Rs.3.50 billion would be inaugurated during the meet. These include the Rs.45.2 million stone park project in Old Chhaoni, Gwalior where stone-based units have been allotted plots for making stone slabs and tiles.

Another unit that will be inaugurated on the occasion is Surya Roshni Ltd at Malanpur for producing CFL lights in Bhind district with an investment of Rs.400 million.

Deendayal Industries Limited, set up with an investment of Rs.1 billion at Gwalior, will also be opened during the meet.

Investors’ meetings have so far been held at Khajuraho, Indore, Jabalpur and Sagar.