Cadila, Inox Wind to invest Rs 800 crore in Madhya Pradesh
Two major companies, Cadila and Inox Wind, have drawn up plans to make big investments in Madhya Pradesh. "The two projects have the potential to generate more than 1,500 jobs," a state industry department official said.india Updated: Nov 16, 2014 15:54 IST
Two major companies, Cadila and Inox Wind, have drawn up plans to make big investments in Madhya Pradesh. Cadila, which plans to invest about Rs 500 crore to set up a pharmaceutical unit in the newly developed industrial area in Jhabua district, has been allocated 95-acre land by the state government while Inox Wind, which eyes investment of more than Rs 300 crore in setting up wind energy equipment plant in Barwani district has been allocated 42-acre land.
The state government is developing several new industrial hubs where large tracts of land are available. Inox Wind is a fully integrated player in the wind energy market with manufacturing plants near Ahmedabad for blades and tubular towers and at Una (Himachal Pradesh) for hubs and nacelles.
It plans to set up another facility for manufacturing blades and other equipment in Relwa Khurd industrial area in Barwani district. "The two projects have the potential to generate more than 1,500 jobs," a state industry department official said.
Officials of both the companies had taken part in the recently concluded Global Investors Summit in Indore. The officials were in touch with the state government after the summit and have now been allocated the land.
The commencement construction work will take some time as the basic infrastructure work such as electrification is still underway. However, the infrastructure work is expected to be completed while the companies receive approvals and permissions.