Bihar urges IFCI to invest in agro industries, tourism

Friday, 08 November 2002, 20:30 IST
Printer Print Email Email
PATNA: Bihar, which is in economic dire straits, has asked the country's top development finance institution to invest in its agro industries and tourism sectors. Chief Minister Rabri Devi, at a meeting with Industrial Finance Corporation of India (IFCI) deputy general manager A.K. Das here, asked the agency to increase its investment in the state by exploring opportunities in agro industries and tourism. Bihar lost all its major industries when the new state of Jharkhand was carved out of its southern districts in 2000. Jharkhand got several big industries, including Tata Steel, mammoth power generation units and rich mineral reserves, leaving Bihar high and dry. Officials here said Rabri Devi asked the IFCI to provide advisory and financial support for reviving sick industries in Bihar. She said the IFCI should survey the sick jute and sugar industries and advise her government on how to rejuvenate them. But Das said Bihar needed to take the first step. He said the state had not put forward a single proposal for setting up of industries in the last five years and needed to draw up an attractive package for investors and offer a single window facility to enable them to get clearances quickly. Das apprised Rabri Devi about the IFCI's plan to rejuvenate three industrial units in Bihar. He said the IFCI, which has so far pumped in 1 billion in 90 diversified projects in Bihar, was ready to extend credit. He also said the IFCI was ready to bring out a feasibility report on sugar mills, find strategic partners and even buyers if the state government made a formal request. Das also met Rabri Devi's husband and predecessor Laloo Prasad Yadav
Source: IANS