Corporates proposed Rs 4,500 crore investment in the tribal-dominated Balaghat district of Madhya Pradesh during an investors’ summit organised by Chief Minister Shivraj Singh Chouhan on Wednesday. The district, once synonymous to Maoism, has managed to rein the left-wing extremism to a large extent in last few years. Known for its dense forests, Balaghat also shares borders with the neighbouring Chhattisgarh.
Water, minerals and other natural sources are in abundant in the district, said CM Chouhan addressing the investors virtually. The district also is number one in paddy production in the state, he added claiming that the area offers vast potential for investment and industrial operations.
He assured potential investors all possible support once they begin investments in the district.
Out of the 4,500 crore, Rs 2200 cr has been promised for the Ferro and Alloy industries. A senior officer from the Industries Dept said that once these proposals materialise, Balaghat will emerge as a major manufacturing hub of Ferro and Alloy sector.
Industrial Policy and Investment Promotion minister Rajyawardhan Singh Dattigaon said that following a policy of promoting industries, MP has shed the image of BIMARU state and now is listed among the developed states.
The minister said investment proposals in sectors like bamboo production, ethanol, manganese and rice processing adding these units will boost employment generation in the district.
Under a government scheme, production of rice variety Chinnor is being boosted in the tribal district, said Ayush minister Ramkishore Kanvre.
Among other incentives, state government has offered power subsidies, 50% subsidy in land allotment besides 25% additional subsidy and MP Pollution Control Board validity for five years instead of existing two years.
The investment will generate jobs for around 7,000-8,000 local youths, a statement from MP publicity department said.
(With inputs from Pratik Mohan Awasthi)