Rajasthan signs MoUs with PSUs, companies worth Rs.50,000 crore

The Rajasthan government on Friday signed 13 memoranda of understanding (MOUs) with various public sector undertakings and private companies involving investments of Rs.50,527 crore.

The MoUs, mainly in the mining, cement and power sectors, were signed in the presence of Rajasthan Chief Minister Vasundhara Raje, union Minister for Steel and Mines Narendra Singh Tomar and union Minister of State for Power, Coal and New and Renewable Energy Piyush Goyal.

Twelve MOUs include those signed with Steel Authority of India (Rs.6,500 crore), Rashtriya Ispat Nigam Ltd. (Rs.2,500 crore), Hindustan Copper (Rs.900 crore), Reliance Cement (Rs.3,400 crore), Hindustan Zinc (Rs.8,357 crore) and UltraTech Cement Limited (Rs.5,100 crore).

The state government also signed an MoU for Rs.10,000 crore with Power Grid Corporation of India for planning and development of an inter-state transmission system for solar energy generated at solar power parks in Jodhpur and Jaisalmer districts.

Speaking on the occasion, Raje said that the memoranda would help create big employment opportunities in the state.

"We declared an investor-friendly mineral policy in June. These kinds of policies are attracting companies to invest in the state in a big way. We are undertaking development works at a fast pace in the state," the chief minister said.

Raje said that Resurgent Rajasthan Partnership Summit next month would make a major change in the development scenario of the state.

The summit to be held here on November 19-20 would include strategic conferences, panel discussions, round-table deliberations, presentations and one-on-one business meetings.

Speaking on the occasion, Tomar said the state's economy would see a great boom once these MoUs fructify.

Praising the work done in the solar power sector in the state, Goyal said Rajasthan had so far inked MOUs for over 25,000 MW in the solar sector.