MAJOR PETROCHEMICALS INVESTMENT PLANNED IN MADHYA PRADESH

From L.S. Herdenia

BHOPAL: The three day Global Investors meet concluded last week with the promise of investment to the tune of Rs. 6.89 lakh crores in Madhya Pradesh. Addressing media after the conclusion of the fourth such summit, Chief Minister Shivraj Singh Chauhan said that the government has received 3,165 investment proposals worth Rs. 4.36 lakh crore from investors who registered on the official website.

Also investments to the tune of Rs. 1.53 lakh crore were announced during the summit, while an additional investment of Rs. 1 lakh crore has been announced by Union chemicals and fertilizer minister Ananth Kumar. This investment to be made in the petrochemicals sector is very significant in the context of the present developmental phase in Madhya Pradesh

Essel Group chairman Subhash Chandra announced an investment proposal of Rs. 50,000 crore in different sectors and expressed interest in developing five existing cities as smart cities.

Jaypee Group chairman JP Gaur talked about his long association with Madhya Pradesh. He pledged an investment of Rs. 35,000 crore in different sectors including building a smart city in Rewa. He also talked about his journey from rags to riches and how he was always full of confidence while bidding for a project even though the project used to be many times the balance sheet of the company.

Besides private sector public sector industries have also promised investment in various areas. The centre plans to invest Rs. 22,000 crore through BORL that owns and operates Bina refinery. Other investments by public sector enterprises include Rs. 12,000 crore for setting up of a fertilizer unit, Rs. 13,000 crore by SAIL for steel and iron plant and Rs. 28,000 crore for mining by NMDC and NALCO.

Union minister for chemicals and fertilizers Ananth Kumar also announced an investment of Rs. 1 lakh crore for setting up a petrochemical investment region in and around Bina in Madhya Pradesh. Power and Coal minister Piyush Goyal said his ministry will invest Rs. 20,000-Rs. 22,000 crore over the next few years in renewable energy sector in the state and also announced additional investments by NTPC in thermal power plants. The state government will now follow up on the investment proposals and depute an official as investment manager to facilitate the projects and obtain necessary permission.

Madhya Pradesh is the country’s fastest growing state with some of its best infrastructure but private investment has not kept pace. Chief Minister Shivraj Singh Chauhan has been making all efforts to promote a pro business climate in the state in a bid to facilitate speedy investment.

Following are the major areas in which investments have been promised:-

Sector | Proposals | Amount in Crore
Agri business, food processing | 745 | Rs. 46,616
Industry and manufacturing | 1,574 | Rs. 1,60,875
Infrastructure | 320 | Rs. 1,14,231
Healthcare and medical education | 96 | Rs. 30,567
Non-conventional energy | 224 | Rs. 1,77,568
Information technology | 78 | Rs. 44,435
Education | 36 | Rs. 6,303
Tourism/eco-tourism | 66 | Rs. 7,037
Miscellaneous | 26 | Rs. 1,682

On the last day of the meet, separate sessions were held to consider possibilities in various key sectors.

These separate sessions discussed potential in Textile, wearing the futures heavy engineering and machine tools, policy initiatives and facilitating. Separate sessions were also organised for representatives from foreign countries. On October 8 a session was organised for Canada, Czech Republic, Mexico and Peru. On October 9 a special session was organised for Australia, on October 10 representatives of Spain, Malaysia and South Africa met in separate sessions.

Prime Minister Narendra Modi specially came to Indore to address the delegate of the summit. In his address Modi said states can play important role in the development of the country. He was all praise for the initiative taken by Shivraj Singh Chauhan. He suggested that every state should make its global pool. He said that providing employment should be one of the main objectives of industrialisation. Jobs can be created in three key sectors. They are construction, agriculture and service. Through our slogan “make in India” we have assured the world that there is vast scope for investment in our country. Modi said foreign investments worth $100 billion are knocking at the doors of India and called for stronger Centre-state relations to capitalise on the opportunity. Almost all the prominent industrialists of the country, several unions and state ministers, ambassadors and high commissioners of 28 countries heard Modi on October 9.

Besides Prime Minister progress made by Madhya Pradesh in IT sector was praised by Dr. R.S. Sharma, Union Government IT Secretary. Pithampur-Dhar-Mow area will be one of the biggest industrial hubs under Delhi-Mumbai Industrial Corridor Project. Industrial area in Ujjain and Sitapur-Morena area will be upgraded to world class industrial area. Vikram Udyognagari in Ujjain will be one of the first smart cities to be developed in the country.

Film maker Prakash Jha announced that henceforth he would shoot his films in Madhya Pradesh. Jha said “People say it is because of my films that Madhya Pradesh gained visibility, but I say I am happy that I got MP and now I do not want to ever leave it.” Jha who has shot five films in MP praised the people and the state government for all the help rendered. He said that in the next few months, he would be shooting four films in Bhopal and other parts of Madhya Pradesh. Jha is planning a film city in the state. He has been given 22 acres by the MP government for that. (IPA)