MP implements over Rs 10 lakh crore in investment projects: CM

The Madhya Pradesh government has implemented projects worth over Rs 10 lakh crore out of nearly Rs 30 lakh crore in investment proposals signed during last year’s Global Investors Summit, chief minister Mohan Yadav said on Wednesday.

Yadav made the announcement while inaugurating a new manufacturing plant set up by construction equipment manufacturer LiuGong India in the Pithampur Industrial Area, around 30 km from Indore. The company has invested Rs 272 crore in the new facility.

“At the last Global Investors Summit, we received investment proposals worth approximately Rs 30 lakh crore. Of these, projects worth over Rs 10 lakh crore have been implemented,” the chief minister said.

Taking a swipe at the Congress, Yadav said, “The opposition used to ask what would be achieved by holding a global investor summit. But under the leadership of Prime Minister Narendra Modi, a changing India and a changing Madhya Pradesh have answered that question.”

According to an official of the Madhya Pradesh Industrial Development Corporation (MPIDC), LiuGong India has expanded its operations in Pithampur by setting up the new plant with an investment of Rs 272 crore. The expansion has created 600 direct jobs and doubled the company’s annual production capacity in the industrial area from 3,250 machines to 7,500 machines.

The chief minister also said the state received fresh industrial investment proposals worth Rs 76,862 crore between January 1 and June 30 this year. These projects are expected to generate employment opportunities for more than 85,000 youth.

Yadav added that Madhya Pradesh has attracted foreign direct investment (FDI) of over Rs 10,000 crore. Indian units of companies from countries including the US, UK, Japan and Germany are also setting up manufacturing plants in the state.

Describing Pithampur as one of the country’s most important industrial centres, the chief minister said more than Rs 1.5 lakh crore has been invested in the industrial area so far, generating direct and indirect employment for four to five lakh people.