Patna, Dec 20 (PTI) Bihar Industries and Tourism Minister Nitish Mishra on Friday asserted that the state is poised to play a key role in the country’s growth engine, as he announced a record Rs 1.8 lakh crore investments across sectors, more than triple the amount received at its maiden investor meet last year.
Detailing the investment proposals received at the end of the two-day ‘Bihar Business Connect 2024’ investor summit, Mishra said several memorandums of understanding (MoUs) entailing investment of over Rs 1.8 lakh crore have been signed.
Sun Petrochemicals will invest Rs 36,700 crore in renewable energy, including pump hydro and solar plants. Adani Group is looking to invest Rs 20,000 crore in setting up an ultra-supercritical thermal power plant. Besides, the group also announced investment towards expanding the cement capacity as well as in the warehousing and logistics sector.
At the summit, leading companies such as NHPC (Rs 5,500 crore for renewable energy sector), SLMG Beverages (Rs 3,000 crore for food processing sector), Shree Cements (Rs 800 crore in general manufacturing category), and Haldiram Snacks Pvt Ltd (Rs 300 crore for food processing sector) also inked MoUs with the state.
"The state government is committed to develop Bihar into a major destination for investment in the country. I express my heartfelt gratitude to all those who participated and became a part of this new journey of Bihar... I am fully confident that Bihar has the potential to become a major growth engine of the country. We signed MoUs with different investors worth Rs 1.80 lakh crore in different sectors... It's a huge achievement for Bihar," Mishra said.
"Our Prime Minister Narendra Modi has already said that Bihar is advancing... we are moving ahead strongly in that direction,” he asserted.
Speaking on the occasion, Deputy Chief Minister Vijay Kumar Sinha said Bihar is the “land of history and future of the country”.
“After Independence, large investments were made in Jamshedpur (which was then a part of united Bihar) and Rohtas. Bihar has always been providing an industrial base,” Sinha said.
“Today, Bihar is also working in the field of exploration of heavy mines and minerals... in Jamui and Rohtas, Gaya and Jehanabad,” he added.
Bihar Chief Minister, Nitish Kumar, who was scheduled to address the concluding day of the summit, could not attend the event due to illness, officials said.
The state’s Energy Minister Bijendra Prasad Yadav, however, read out a message on behalf of the CM.
"The Bihar government has made several policies for development of industries. It is a matter of happiness that now you (investors) are working towards the development of Bihar. I am confident that people of the state will receive the benefits of the environment that is being created for industrial development in the state,” the chief minister’s message said.
Bandana Preyashi, Secretary, Industries Department, said compared to last year, the state received significantly more investment proposals in the 2024 summit.
“Last year, the sum was Rs 53,000 crore. Investments will be made in food processing and general manufacturing, health, information technology, logistics, plastics and rubber, real estate, renewable energy, textiles, leather and hospitality and skill development sectors,” she said.