Chhattisgarh draws maximum investment proposals after Gujarat

Chhattisgarh was the second state after Gujarat to draw maximum investment proposal in 2012.

"The state received expression of interest worth Rs 79,575 crore and scored over among other states barring Gujarat to invite maximum investment proposals in the year 2012," state's industry minister Rajesh Munat said in the Chhattisgarh Legislative Assembly on Tuesday.

Delivering his budgetary speech in the assembly Tuesday, Munat said the investment proposals were not in papers only. The proposals inked earlier by the state government were also taking shape in the state, he added.

The minister informed that Memoranda of Understanding (MoUs) worth Rs 1.92 lakh crore were signed by the state government with different companies for investment in the crore sector that included steel, cement and power. In all, 121 proposals were signed by the government, Munat said.

"Of the total proposals, 58 companies had started work on the project while an investment of Rs 40,000 crore had already come in the state," Munat said, adding that the state government had now stopped signing MoU in the core sector to promote investment in the downstream industries.

The state government had organised the global investment meet in November 2012 for the first time. "The aim of the first meet was to inform the investors about the state and the rich potential it has for investment," Munat said. The meet was successful and had evoked positive response, he added.