India Development News & Foreign Investment Opportunities

Uttarakhand receives Rs.70,000Cr proposals

Adani to build metro rail

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Adani to build metro rail

 

Chief Minister Rawat.

 

The hilly state of Uttarakhand has received Rs.70,000 crore worth of investment proposals including a Rs.5,000 crore metro rail project.

Announcing this, the state Chief Minister Trivendra Singh Rawat said: “Investment proposals worth over Rs. 70,000 crore have been received and most of the Memorandum of Understandings have been signed with an aim to reach development to the state’s hilly areas.”

The announcement was made at a two-day Uttarakhand Investors Summit that began in Dehradun on 7 Oct 2018.

The proposals include Adani Group’s Rs.6,500 crore commitment such as Rs.5,000 crore in a metro rail project and Rs. 1,000 crore to upgrade power transmission.

The group will also invest Rs.500 crore on a logistics park.

“We see tremendous potential in Uttarakand,” said Adani Enterprises Director Pranav Adani, highlighting an MoU signed in the area of farm production.

The state government has identified 12 sectors for focused investments such as wellness and AYUSH, pharmaceuticals, information technology, horticulture and floriculture, natural fibres, tourism and hospitality, film shooting, biotechnology, renewable energy, food processing and automobile.fiinews.com

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