The Madhya Pradesh government will go slow on mining lease for new investors at the Gwalior investors’ meet, which is slated for July 29-30.
A number of companies have applied for limestone, iron ore and other mines and have shown interest in signing deal with the state government at the meet.
“We will give priority to only those who are first applicants in investment proposals on mining. A number of companies have applied for mining lease in Madhya Pradesh but all will not be entertained for signing MoUs. A number of mining investment proposals are already pending,” a senior government official told Business Standard, adding, “we will not entertain even big investors like Shyam Industries, which has proposed Rs 1,000 crore investment, if it is not the first applicant”.
Hyderabad-based Sanghi Infrastructure has proposed to set up a cement plant for Rs 600 crore and has asked for mining lease for 925 hectares at Kailaras and Baghreta (near Gwalior), Bansal Khanij Udyog for red oxide and red oxide premier at Rs 52 crore in Satna, KS Iron and Steel Private Ltd at Rs 70 crore for a steel rolling mill in Banmore and Morena (near Gwalior), MSP Steel & Power Limited for an iron ore beneficiation and integrated steel plant for Rs 2,300 crore in Jabalpur, etc.