Industrial heavyweights commit large scale investment at Indore summit
Work will start soon on Rs.7,500 crore three floating solar power plants in water reservoirs in Madhya Pradesh.
The 3 projects will be in addition to the 600 MW floating solar power plant in Omkareshwar dam area of Khandwa district.
Delegates were updated on the three projects at a session on renewable energy at the “Invest Madhya Pradesh-Global Investors Summit” which was chaired by the State’s Principal Secretary, Energy and Renewable Energy Department, Sanjay Dubey on 11 Jan 2023.
Summit organisers said Rs.16,000 crore worth of MoUs were signed for projects in the field of energy and renewable energy.
The State’s New and Renewable Energy Minister Hardeep Singh Dang assured the investors of smooth implementation of their projects.
Among other proposals announced at the Indore summit, Reliance Industries has committed additional Rs.40,600 crore for telecom, multi-gigawatt renewal projects and retail outlets in the state. At present, the group has Rs.22,500 crore investment in the state.
Industrial heavyweights Aditya Birla Group has committed Rs.15,000 crore over five years across sectors while JSW Group is planning Rs.3,600 crore for a fully-integrated cement plant and a Rs.4,500 crore paint manufacturing units.
ITC, which has a presence in FMCG, Hotels, Packaging, Paperboards & Specialty Papers, Agri & IT Businesses, has announced Rs.1,500 crore investment for setting up 1,000 farmer-producer organisations (FPOs) in the state.
ITC chairman Sanjeev Puri shared at the summit his plans for a packaging and food processing unit in the state.
Trade observers at the summit said investors have captured the investment potential of Madhya Pradesh.
In his message to the summit, Commerce and Industry Minister Piyush Goyal said Madhya Pradesh is India’s second largest state and very strategically located at the centre of the country, with both north-south and east west-corridors crossings.
He highlighted that the state contributes 24% to the world’s organic cotton production which reflects its growing importance in the international market. fiinews.com
