Saturday, October 23,
Companies exploring mining prospects in Madhya Pradesh could benefit if sufficient value addition is done in the State.
This is the salient feature of the new investment policy unveiled by the Chief Minister, Mr Shivraj Singh Chauhan, today. Madhya Pradesh inked over 20 investment agreements worth Rs 1,20,647 crore on the first day of the two-day Global Investor Summit II held here on Friday. While 16 MoUs were signed for industrial projects, four were in the energy sector.
The sixth investor meet also saw the State offering land at concessional rates besides fiscal incentives such as exemption of Mandi fee and reimbursement of VAT under the New Industrial Promotion Policy 2010 to be effective from November 1.
Cautioning the industry not to take the MoUs lightly, the Chief Minister said if no follow-up action is taken within two years, the MoUs can be cancelled. “We are here to attract investments and earn revenue and generate employment,” he added.
UltraTech, NTPC Thermal Power Plant, Videocon Industries, GAIL (India) and Essar are some of the major companies that announced new investments in sectors such as energy, mining, cement, ferro alloy, and white goods. Rio Tinto signed a State Support Agreement for the Rs 2,300-crore diamond mining project in Chhatarpur.
Source: The Business Line
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