 "Torrent Power to invest Rs 18K cr in thermal power plant in Madhya Pradesh")
Torrent Power Limited has announced plans to set up a thermal power plant in Madhya Pradesh with an investment of Rs 18,000 crore. The company made the announcement at the Regional Industry Conclave (RIC) held in Shahdol on Thursday.
Torrent Power Limited Vice President Naveen Kumar Singh said, "The investment policy of Madhya Pradesh is completely favourable for industries. Investment proposals are being approved here within the stipulated time frame. There are good facilities for electricity, water, and infrastructure. Torrent Power Limited is going to set up a thermal power plant based on modern technology in the state." This project will provide direct and indirect employment to over 7,000 people.
Chief Minister Mohan Yadav said, "Madhya Pradesh is an industry-friendly state. We provide special incentives to industries in tourism, IT, readymade garments, and other sectors. In the last few months, an investment of more than Rs 4 lakh crore has come in through the six RICs organised in the state, and these will create employment for more than 3 lakh people."
In total, investment proposals worth Rs 32,520 crore were received at the Shahdol RIC, which will create over 30,000 jobs.
Apart from Torrent Power’s Rs 18,000 crore proposal, Shri Bajrang Power and Ispat Limited proposed an investment of Rs 3,300 crore in the mining sector, Select Builders committed Rs 2,500 crore in renewable energy, Sharda Energy and Minerals Limited proposed Rs 2,500 crore in mining, and DDTC Exim Limited committed Rs 1,200 crore in the textile sector.
According to officials from the Industry Department, 95 per cent of the proposed investment of over Rs 32,000 crore in Shahdol RIC is targeted at Shahdol and its surrounding areas, distinguishing it from other RICs.
During the conclave, 401 acres of land were allotted to 102 MSME units. An investment of Rs 3,561 crore is expected to create around 9,500 jobs in these units.