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| 27 companies invest Rs 1,866 crore in MP |
| Shashikant Trivedi / New Delhi/ Bhopal May 16, 2009, 00:56 IST |
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As many as 27 companies started operations during 2008-2009 in Madhya Pradesh with a combined investment of Rs 1,866 crore. Of this, Jaypee Cement has invested Rs 872 crore in the state.
These companies have started production in various sectors including bulk drug and formulations, rice processing, power equipment, footwear, cement, packaging, flour mill, sugar, and milk processing among others.
Companies like JP Cement, Lupin, Newtech Pipes and Cummins Turbo have invested over Rs 100 crore.
However, after September last year the slowdown, elections and delay in framing a new industrial promotion policy had dampened the industrial investment process. “Economic slowdown and electoral process had an impact on the investment flow. The new industrial promotion policy will come out in July as it is pending with the Minister of Industries and Commerce. The Project Clearance and Implementation Board meeting has not been conducted since months. Moreover, the apex empowered committee on investment too has to discuss a number of new investment proposals. But the process will take another week or fortnight as the code of conduct is effective,” a senior government officials said.
Prominent companies, which have commenced operations in the state are JP Cement’s Rs 872 crore plant in Sidhi, Lupin Labs’ Rs 175 crore plant for bulk drug formulation in Mandideep near Bhopal, JCO Gas Pipes Limited’s Rs 54 crore unit for iron steel products in Chhindwara Cummins Turbo Technologies’ Rs 159 crore plant for turbo chargers in Indore, Lakhani Rubber Products Pvt Limited footwear unit set up at a cost of Rs 12 crore in Pithampur, Godrej Consumer Products’ Rs 56 crore unit in Malanpur Gwalior and VRS Foods’ Rs 44 crore milk processing centre in Malanpur.
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