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Power sector steals Khajuraho show

AS MANY AS 10 memoranda of understanding (MoU) worth over Rs 16,000 crore were signed on the first day of the two-day Khajuraho Investors? Meet ? a prelude to the ?Destination Madhya Pradesh: Global Investors? Summit? in October- on Tuesday.

india Updated: Jan 17, 2007 03:01 IST

AS MANY AS 10 memoranda of understanding (MoU) worth over Rs 16,000 crore were signed on the first day of the two-day Khajuraho Investors’ Meet – a prelude to the ‘Destination Madhya Pradesh: Global Investors’ Summit’ in October- on Tuesday.

While five MoUs were signed in power sector amounting to Rs 14,650 crore, the rest five were in textiles, IT, foods, hotel and agro sectors.  Three of them were signed along with an Expression of Interest (EoI) immediately after the inaugural function.

The first – a textile project to manufacture terri-towel with an investment of Rs 963 crore —was signed between Punjab based Abhishek Industries Limited’s managing director Rajesh Gupta and MP State Industrial Development Corporation (MPSIDC), MD Praveen Garg. The industry is the fifth largest manufacturer in the category and has marketing tie-up with Wal-Mart. The unit would come up at Budhni - Chief Minister Shivraj Singh Chouhan’s constituency. 

The second one worth Rs 60 crore investment was signed between LT Overseas Limited (Dawaat Rice) and MPSIDC for setting up of an  ultra-modern Basmati rice milling and processing unit at Mandideep.

The investment would be made in phased manner. In IT sector, Netlink Software signed an agreement with MP Electronics Development Corporation for Rs 60 crore project at Bhopal.

“We’re planning to set up a disaster recovery centre at Bhopal through infrastructure management,” Netlink’s CEO, Anurag Shrivastava told Hindustan Times.

He added that in future the company would go for further investments in BPO sector taking it to Rs 100 crore. The two MoUs signed in the first-half were between Oberoi Group and State’s tourism department for an investment of Rs 100 crore towards developing Rajgarh Palace into a hotel resort. Vikram Oberoi and principal secretary (tourism) Abha Asthana signed the MoU.

The other was between Cosmo Bio-Fuel and MP Agro Corporation for  producing bio-fuel from Jatropa. The Rs 30 crore unit is likely to come up at Shivpuri on a 1486 hectare of wasteland. MP Agro MD, JN Kansotia and Cosmo’s Amrish Jaipuria signed the MoU. 

Five private players signed MoUs with the energy department. Secretary (Energy), Sanjay Bandopadhyay signed on the MoUs on the government’s behalf. The first MoU in power sector was with JP Associates for production of 500 MW with an investment of Rs 2000 crore, signed by company’s executive chairman Manoj Gaur. The second, Torrent Power Ltd’s Rs 4000 crore investment for a 1000 MW project, was signed by its director SK Duggal.

The Aryan Coal Benefications (P) Ltd’s Rs 2250 crore project to produce 250 MW was signed by Capt RS Sindhu. The agreement for the Rs 2400 crore 600 MW (300x2) power project from imported coal to come up at Bamania (Jhabua) was signed by Kedia Power Ltd’s director Atul Mishra.  SJK Powergen Ltd’s MoU for Rs 4000 crore investment for 1000 MW (500 x 2) was signed by its director P Surendra. An EoI was forwarded to government by Malaysia based Vinaya Shetty for setting up a training institute for pilots, air-hostesses and technical staff worth $ 1.5million.