Red tape gives way to red carpet in MP

January 17, 2007	(Be the first to rate this story!)  Loading ...
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The Madhya Pradesh Government laid out the red carpet for investors at the two-day Investors Meet 2007 in Khajuraho on 15th January.

Welcoming representatives from Indian industry and NRIs from the US, Canada, Australia, the Gulf and Japan, the Chief Minister, Shivraj Singh Chouhan assured transparency and trouble-free dealings to entrepreneurs wishing to set up projects in the state. He announced plans to set up industry wise hubs which would be allotted to applicants as per their requirements.

Madhya Pradesh offers good location advantages and a peaceful investment climate, apart from a rich reservoir of natural and mineral resources and non-stop power supply. The government has invested proactively in infrastructure to make the state a viable investment option.

It was a busy day for the MP Government, with as many as 10 MOUs being signed totaling an investment of Rs.158 billion, and 8-9 more expected the next day, taking the figure up to Rs.400 billion. The Oberoi group signed a Rs.1 billion deal to develop a world-class resort in Khajuraho at the Rajgarh palace, and a Rs. 3 million agreement with Cosmo Biofuel for jatropha plantation in the state.

Five agreements were also inked for thermal power plants with an investment of Rs. 146.5 billion – these would generate 3,600 MW. Abhishek Industries will be setting up a textile unit in Sehore with a Rs. 9.63 billion investment, while LFT Overseas Ltd. from Delhi will set up a factory in Mandideep for Rs.600 million.

News Published Under:   Real Estate India |

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