 "Foreign investors make a strong comeback")
After a series of business trips to China, Japan, South Korea, Singapore and Hong Kong state chief minister Shivraj Singh Chouhan received investment interests from various investors and planned a separate industrial township for South East and Far East Asian Nations (SEFEAN). Of them Japan, South Korea, and Singapore are partner countries of the state in Global Investors Summit-2016.
To be developed on an area of 206 hectares near the auto testing track in Pithampur (Dhar) district, the separate industrial enclave will have rail and road connectivity, dedicated contained stacking and handling area, warehousing facility, custom bonded and exim (export-Import) cell, cargo handling up to 65,000 units and round-the-clock power supply.
"Besides, the industrial enclave for South Asian countries, we have also planned a separate industrial area, in view of the upcoming auto testing track, with an investment of Rs 350 crore. Work will start on the new industrial area soon as we do not have more land for industries near Pithampur. This new industrial area will be carved out from additional land, which we have obtained back from auto testing ground. This would a smart industrial park near Pithampur. While the separate industrial township will provide a base for companies from the South East Asian countries like Japan, Singapore, South Korea, Hong Kong, etc., to manufacture and exports. Also domestic industries will get land in these areas," Rajendra Shukla, industry minister told BS.
Chief minister Shivraj Singh Chouhan visited countries like China, Singapore, Hong Kong and Japan. The state government officials claim that Japan's development funding agency JETRO (Japan External Trade Organization) will fund Indore and Bhopal metro rail project and also a knowledge city which is being developed near Ujjain.
The Chief Minister visited the country under exchange programme between Indian Ministry of External Affairs and International Department Centre Committee of Communist Party of China and termed his visit, "highly successful."
"Discussions were also held on dialogue between BJP and Communist Party of China and detailed discussions were also held with Chambers of Commerce of Beijing, Guangzhou and Shenzhen," he had said.
The township will have 135 hectare for industrial plot area, 2 hectare for hotels and commercial activity, 5 acres for residential units and 9 acres for parking.
An area of 1100 acre has been taken back by state government from a larger chunk of 4400 acres (approximately) which was allotted to Auto proving ground, also known as Auto Testing Track. The track, first in India, is coming up near Pithampur industrial area.
Madhya Pradesh is looking investment from Japanese companies in metro rail project which it has planned in Indore and Bhopal with a total investment of Rs 15000 crore in two years. The project cost would mostly be funded by Japan on nominal interest rate of 0.3 percent for Rs 12000 crore provided state offers 30 percent manufacturing activities to Japanese companies.
Chouhan government has also said that his government would seek loan from China-backed Asian Infrastructure Investment Bank (AIIB) for US$ 100 billion to invest in rural drinking water project. Chouhan had a meeting with the bank officials during his visit.
At present only one earthmoving equipment making Chinese company LiuGong has presence in Madhya Pradesh with an initial investment of Rs 150 crore made in 2012. Chouhan had also visited China in 2011, while tyre maker Bridgestone from Japan has its plant in Pithampur.
