You are here: Home » Economy & Policy » News
Business Standard

SoftBank, partners shortlist Chhattisgarh for investment plan

Raman Singh-led govt offers land for token amount of Rs 1

R Krishna Das  |  Raipur 

Japanese internet and telecommunications giant SoftBank, its partners Bharti Enterprises of Sunil Mittal and Taiwanese manufacturing giant Foxconn had expressed interest to invest in Chhattisgarh.

SoftBank Chairman and Chief Executive Officer (CEO) Masayoshi Son along with Sunil Mittal Tuesday night met Chhattisgarh Chief Minister Raman Singh and discussed about the investment plan.

Union Minister of state for power, coal Piyush Goyal was also present in the meeting. The three companies had formed a Joint Venture and announced $20 billion push in India for various renewal energy projects. The visit of Son and Mittal was planned all of a sudden.

They were on a visit to Hyderabad and were impressed by the investment opportunity in Chhattisgarh. Son and Mittal while returning to New Delhi landed in Raipur and held a high level discussion with the state authorities. A detailed presentation was made by the state government.

ALSO READ: SoftBank, Bharti and Taiwan's Foxconn form JV for renewable energy in India

“The Joint Venture company had expressed keen interest to invest in Chhattisgarh and would be sending a high level team for further discussion,” Aman Singh, Principal Secretary with the department of energy and information technology, said. Chhattisgarh invited the company to setup a solar manufacturing including fabrication facility in the state, he added.

Singh said the Chief Minister, Raman Singh had offered land for a token amount of Rs 1 to the company. This would be other than the attractive incentives and offers mentioned in the state’s industrial policy, he said, adding that lowest power tariff and abundant land had been the salient feature of the state for investment.

The state government had also invited Foxconn, a Taiwanese company, to set up electronic manufacturing unit.

First Published: Wed, June 24 2015. 20:10 IST