MP to spruce up industry image before investors' meet

The state government has entered into a tie-up with HUDCO for a sum of Rs 1,000 cr to improve five industrial areas across the state

To present a rosy picture of industrialisation at the Global Investors Summit (GIS) to be organised next month here, the Madhya Pradesh government is planning to spruce up its industrial areas, where poor infrastructure hinders growth.

Indore boasts of three industrial areas, namely Pithampur, Sanwer Road and Pologround, where ill-maintained roads make supply of raw material and transportation of finished goods very difficult.

“Before the GIS, we will improve the road conditions of all the three local industrial areas. A fund of Rs 96 crore has been sanctioned to Pithampur and Rs 58 crore to the Polo Ground and Sanwer Road industrial areas,” Manish Singh, managing director of Audyogik Kendra Vikas Nigam Indore, an arm of the department of industries, told Business Standard.

 

Polo Ground and Sanwer Road have nearly 2,000 large-, medium- and small-scale units. Core manufacturing activities dominate all sectors — textile, defence products, torches, water supply pipes, furniture, medicines, iron and steel, irrigation and agriculture implement, etc.

“We have been issued a letter of intent in this regard; they will create roads spanning 35 km in both the industrial areas with an investment of Rs 7 crore per km road,” Vijay Agrawal, a representative of Association of Industries, Madhya Pradesh, said.

The state government has entered into a financial tie-up with the Housing and Urban Development Corporation Limited (HUDCO) for a sum of Rs 1,000 crore to improve five industrial areas across the state.

“We need to showcase our existing industrial infrastructure as well as potential industrial infrastructure. For example, we will showcase two upcoming investment corridors — the Bhopal-Bina corridor and the Jabalpur-Kati-Satna-Singrauli corridor, which will be our key points to be presented before business heavyweights,” said Agrawal.

The state industries department is going to organise Global Investors Summit during October 28-30.

The department has set invitation to 428 dignitaries of them 53 will be chief guests including the ambassadors of Kuwait and Quebec.

Anil Ambani, Adi Godrej, Subhash Chandra, Pawan Munjal, B N Kalyani and S P Oswal, are among the industrialists who have given their confirmation for participation.