Financial Daily from THE HINDU group of publications
Monday, May 02, 2005
Industry & Economy
India Inc promises Rs 30,000 crore investment in M.P.
New Delhi , May 1
CAPTAINS of industry have promised investment worth around Rs 30,000 crore to Madhya Pradesh, according to a PHDCCI release here.
This was pledged at the chamber's first State-level centenary programme at Bhopal during an interactive meeting with the Chief Minister, Mr Babulal Gaur.
The investments will come in sectors such as textiles, telecom, IT, petroleum and pharma. The most significant announcement was the MoU to be signed in a fortnight for a six-million-tonne oil refinery in Bina by Bharat Petroleum.
Mr S.P. Oswal, Chairman, Mahavir Spinning Mills, announced his company's decision to invest Rs 700 crore in a composite textile facility in composing spinning, weaving and readymade garments at Badni.
Telecom major AirTel plans to invest over Rs 100 crore in the next five years to strengthen the State's telecom network.
Pharma major Ranbaxy has promised to double its capacity at the Dewas plant with substantial investment.
The LNJ Bhilwara Group announced expansion of its production capacity of electro graphite at an investment of Rs 500 crore.
Mr Raghupati Singhania of J K Tyre and Chairman, PHDCCI Centenary Celebration Committee committed Rs 200 crore.
The Hotline Group of Companies' Chairman, Mr Anil Gupta, has announced an investment of Rs 1,000 crore at Malanpur, Gwalior to expand its picture tube capacity.
Mr S.K. Chaudhary of Pratibha Syntex Ltd said he would invest Rs 800 crore, including an Rs 400 crore Tehri tower project in the Indore SEZ.
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