Enthused by a successful Global Investor Summit last month, the Jharkhand government is now following it up with a reach-out programme and is expecting 10 projects to go on stream in the next 60 days. “We want 172 MoUs to translate into actual investment in a years time and 10 projects should kick off in April and May. The pace of investment flow should pick up in the subsequent months,” Industry Secretary Sunil Kumar Barnwal told PTI.
Jharkhand received investment commitment of Rs 3.10 lakh crore during the two-day maiden Global Investors Summit last month.
Post Momentum Jharkhand Investors Summit, the Department of Industries started investors’ facilitation meet to understand issues and provide help and support from state administration wherever possible, he said.
“The advantage of such meets with investors, who signed MoUs, is that they started work much more seriously in terms of financial closure, preparation of the DPR (detailed project report), application of allotment of land and seeking other permission and regulatory approvals,” he said.
The state government has already identified land to be allotted to various industries in cities like Jamshedpur, Dhanbad, Bokaro and Ranchi, he said.
The state government has already held Investors’ Facilitation Meet at Bengaluru, Chennai, Delhi, he said.
He also said that the government has already devised timeline by which different mining areas would be put for auction that would further accelerate investment process.
During the next 12 months, he said, “we are targeting those MoUs which could get on ground fast. So we have identified 172 investment agreements entailing investment flow of Rs 80,000 crore.
“But large investment proposals over Rs 50,000 crore which are contingent upon availability of mines, huge land acquisition, forest clearance etc would take more than year to go on stream.”
Once all these proposals are realised on the ground, it has potential to create 1.92 lakh direct employment opportunities and 2.70 lakh indirect employments, he said.