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J'khand govt holds ground-breaking for 21 projs worth Rs 700cr

Press Trust of India  |  New Delhi 

The today held a ground-breaking ceremony at Hotwar in Ranchi to lay foundation for 21 projects that are expected to attract Rs 700-crore and create 21,000 direct jobs and also promised speedy approvals for new businesses. The Momentum Jharkhand: Global Investors Summit (GIS) in February in the state saw signing of 210 memorandum of understandings (MoUs) worth Rs 3.1 lakh crore between investors and the state "The 21 projects underway will have an estimated direct investment inflow of more than Rs 700 crore and the potential of generating 21,000-plus direct jobs," the said in a statement. Speaking on this occasion, state Chief Minister said, "The ground-breaking ceremony marks the successful culmination of the government's efforts in attracting national and international investors and then driving speedy due diligence and approvals within the shortest possible time-frame." This also marks the beginning of a new era in sustainable development that will broad-base the state's industry segments, while creating income-generating opportunities and employment avenues for the local people, he said. "The speed with which clearances to 21 projects were granted is testimony to the government's resolve in making our state the most-preferred investment destination in the country," he added. The summit had attracted investors from across the world including nations such as Russia, Korea, Belarus, China and others. In turn, the multiplier effect would be generating indirect employment in excess of 50,000 and ensuring a manifold increase in income for SMEs (small and medium enterprises) in Apart from 21 projects, three other projects were inaugurated by the chief minister during the ground-breaking organised by the Department of Industries today. The 21 projects pertain to 19 corporate entities from across the country, representing eight industry segments, including textiles, food & food processing, pharmaceuticals, waste management, health, footwear, warehousing & logistics, among others. Some leading corporates promoting these projects are Orient Craft, Shahi Exports, Kaveri Agri Warehousing, Dev Aahar Food Industries, Shaw Pharma, Matrix Clothing, Pragati Beverages and Thriveni Apparels.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 17:23 IST