Efforts being half-hearted, MP will hardly attract investors at the Gwalior Investors’ Meet, to be organised on July 29 and 30.
The list of expected investors (a copy of this is available with Business Standard) shows that of the total 20 investors, five will sign a memorandum of understanding with the state government for the second time.
Moreover, only eight investors have proposed to set up units, in Banmore and Morena (near Gwalior). An investment Rs 27,693.75 crore is expected from various deals to be signed in Gwalior.
Bridgestone, Hero Group, Sanghi Infrastructure, IL&FS and Surya Roshni are among the 20 companies/groups that will make investment proposals.
The Gwalior Investors’ Meet is the last of the series ‘Destination Madhya Pradesh’, which was launched by the MP government in association with the Federation of Indian Chambers of Commerce and Industry (Ficci). The state government has decided to organise the meet on its own after a “bitter experience” with Ficci.
Bridgestone would sign a deal with the state government for an investment of Rs 500 crore to expand its existing tyre unit in Pithampur, Sanghi for a cement plant of Rs 600 crore in Kelaras, Hero Associates Ltd for aircraft manufacturing and service of Rs 500 crore in Tamor village of Raisen district, IL&FS for consultancy on a power equipment manufacturing hub of Rs 20,000 crore in Indore and Surya Roshni for a cement plant of 2 million tonnes at Rs 1,076 crore in Satna, a government source told Business Standard.
Other companies that will sign deals with the state government include KS Oils for packaged solvent extruded oil, refined oil and a vegetable oil plant of Rs 120 crore, Nahar Poly Films for a poly film manufacturing unit of Rs 300 crore, MP Steel and Power Ltd for an iron ore and beneficiation plant, integrated steel plant of a 2-million-tonne capacity and 300 Mw captive power plant at Rs 2,000 crore, MSP Metaliks for a similar plant at Rs 1,720 crore, Premanchal Breweries (Rs 100 crore), Ganpati Oil and Foods Ltd for a soya refinery and solvent plant of Rs 34 crore, Jamuna Auto for a leaf spring manufacturing plant of Rs 60 crore, Automotive Axis Ltd for a forging and machine component unit of Rs 110 crore, Karnal Milk Foods Ltd for a rice milling unit of Rs 11.75 crore, and Powertech Global for a transformer manufacturing unit of Rs 60 crore.