MP upbeat on investors' meet

Buoyed by the response from tycoons like the Ambanis, Pramod Mittal, Shashi Ruia, Swati Piramal and Sajjan Jindal to its ‘Destination Madhya Pradesh’ investment drive at Khajuraho on October 22, the state government is upbeat on attracting more investment in the power and infrastructure sectors.

Industry chambers like Assocham have also chipped in to set the stage for the mega show. The biggest deal is likely to be signed by Delhi Mumbai Industrial Development Corporation (DMIDC) and MP Trade and Felicitation Corporation for Rs 30,000 crore to set up ‘early bird’ projects and another deal for Rs 4,000 crore for the Chainpura power project.

“We are likely to attract more than Rs 150,000 crore investment deals in the show. In our earlier programmes organised at Indore and Khajuraho, we set the agenda for the state. Now, enquiries are pouring in and investors have queued up. We have various investment proposals to choose from,” Anil Jain, managing director of MPTRIFAC, said.

The Khajuraho meet, according to him, has already received confirmed proposals of Rs 72,000 crore from the power sector. The figure is likely to cross Rs 150,000 crore as a number of investors from manufacturing sector have been given approval to sign deals with the state TRIFAC.

On the other hand, investors have complained that the “negative” attitude of state officials is still the biggest hurdle. The “single table” concept floated by Chief Minister Shivraj Singh Chouhan has failed to take off. “The seriousness of the government machinery is evident from the fact that there is no waiting room for investors in the secretariat,” an investor said on condition of anonymity.

Companies like Akzo Nobel, Grasim, Maxworth Spinning, Essar, Videocon and Emami Cements are prime among those who have committed deals of Rs 44,495.30 crore in the meet. Besides, few companies including Mahindra & Mahindra are likely to sign deals for the food processing and agri processing sector.

Among power companies, GMR Bundelkhand, Videocon Industries, Era Infra, Ojas Energy, NTPC and Nuclear Power Corporation are also likely to sign deals.