Madhya Pradesh gets investments worth 1.14 trillion

Monday, 29 October 2007, 07:00 Hrs
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Indore: Madhya Pradesh reaped a rich harvest at the two-day Global Investors' Summit, which concluded here Saturday, with 96 memorandums Of understanding (MoUs) worth 1.14 trillion (nearly $29 billion) signed in various sectors.

"Marketing of the state done by our teams both inside and outside the country has borne fruit. The meet has been successful beyond expectations and it would now be seen that the projects now turn into reality," said Chief Minister Shivraj Singh Chouhan.

"The maximum number of 48 MoUs, entailing an investment of 463.63 billion, was related to industrial projects. Six MoUs worth 548.46 billion pertained to the energy sector. Similarly 10 MoUs worth 27.31 billion were related to the education sector, four MoUs worth 16.85 billion were from the health sector and 12 MoUs were signed, worth 64.07 billion, in the IT sector," Chouhan said.

"I would personally monitor the progress on implementation of the MoUs on a monthly basis," Chouhan told reporters.

The chief minister also disclosed that of the 26 MoUs signed during the Khajuraho business meet, held in February 2007, work on 21 has already started.

He said that the state government has so far signed MoUs worth 1.23 trillion and work on the majority of them was moving towards completion.

Earlier, addressing the concluding session of the summit, the chief minister expressed happiness that agreements have been signed in almost all the important sectors and added that the signing of MoUs for 10 universities showed that Madhya Pradesh would soon emerge as a major education hub.

Chouhan assured the industrialists that there would be no inconvenience to them in setting up their businesses and necessary rules, laws and procedures would be suitably amended for the convenience of the investors.

But he also warned the investors that in case MoUs were not implemented within scheduled time period they would be rejected.

"In view of the enthusiasm and response of the investors it can be said that till yesterday Madhya Pradesh was poised for a takeoff, but today it has taken off," he said.
Source: IANS
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