Government of Madhya Pradesh (MP) and Indo- EU Business Forum
Global Investor Meet 25-27 October 2007
London: The Global Investor Meet held at Indore, the financial capital of central Indian state of Madhya Pradesh, on October 26 and 27 this year. As many as400 industrialists and investors took part in this ambitious and prestigious meet. These include 121 NRIs and foreigners out of which 42 was arranged bySinghania & Co, London and 253 Indians.
Warm welcome was accorded to the investors coming on October 25 at the airport and the hotels. Chief Minister Shri Shivraj Singh Chouhan inaugurated an exhibition at the Indore Development Authority Ground near Hotel Fortune Landmark at 6 pm the same day.
The summit was inaugurated at 10.30 am at Indore Development Authority ground near Hotel Landmark. Discussions with the investors held about the prospects of investment in the state. The afternoon session featured discussions on investment prospects in tourism, civil aviation, housing, urban development, S.E.Z, auto track, auto component, pharmacy, mining, textiles, technology and higher education sectors at Hotel Landmark.
As many as 36 Memorandums of Understanding (MoUs) worth Rs.98,000 Crore were signed at the Global Investors Summit. Chairman of Anil Dhirubhai Ambani Group, Anil Ambani participated in the meet. He discussed at length his group's plans of investing Rs 50,000 crore in Madhya Pradesh. With these proposed investment plans, the Anil Ambani group would become the single largest investor in Madhya Pradesh. A MoU for about Rs. 50,000 Crore is seen to be signed by Reliance Energy on the first day of the summit.
Besides, investing Rs 20,000 crore in 4000 MW Sasan Ultra Mega Power Plant in Sidhi, ADAG group is also setting up an Independent Power Project of 4000 MW with anticipated investment of Rs 20,000 crore. The ADAG is considering the right use of central location and the high-quality coal of Madhya Pradesh.
Anil's company is also contemplating establishing cement plants in the vicinity of Sasan UMPP so as to utilize the fly ash from the power project. The group also proposes to set up an airport in Sidhi district for power plants and industries located in the region.
Madhya Pradesh on Friday offered to extend special concessions to industrial houses investing over Rs 25 crore in the state and said, it has already cleared projects worth Rs 9,125 crore this fiscal.
“Investments above Rs 25 crore are considered as mega projects and special concessions will be given to them,” chief minister Shivraj Singh Chouhan said, but did not elaborate on what sops industrial units would be offered.
Chouhan said projects worth Rs 9,125 crore have been cleared so far this fiscal, and that the state has set up a single window for clearing projects. He was addressing an
interactive meet with the industries, which comes ahead of the Global Investors Summit at Indore in October.
Students of Indian Institute of Management (IIM) at Indore were assigned the job of telling investors about Madhya Pradesh's USP at the two-day Global Investors Summit starting Friday at Indore, 186 km from the state capital.
"In all, 150 management students of top business schools, including Indian Institute of Management and Prestige Institute of Management and Research, prepared to help investors and businessmen by apprising them of the advantages of investing in the state," said an official.
A special workshop for the students was held at Indore recently, he added.
"The summit provided a good opportunity to interact with business achievers and learn from their experiences,"
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