Regional Industry Conclave 2024: ₹23,000 Crore Investment Proposals and 27,875 New Job Opportunities

Regional Industry Conclave 2024: ₹23,000 Crore Investment Proposals and 27,875 New Job Opportunities

Sagar, Madhya Pradesh – September 26, 2024: The Regional Industry Conclave 2024, held in Sagar, Madhya Pradesh, has emerged as a landmark industrial event, attracting investment proposals worth ₹23,000 crore. The conclave is expected to generate over 27,875 new job opportunities, marking a significant milestone in the state’s journey towards rapid industrial development. The event focused on promoting industrial potential across Madhya Pradesh and the Bundelkhand region, with the aim of accelerating regional growth.

During a press conference, Chief Minister Dr. Mohan Yadav shared that the conclave has sparked a new wave of investment in the state. He stated, “This event will not only bring economic prosperity but also increase employment opportunities for the local population. This is the fourth Regional Industry Conclave, organized with the aim of ensuring balanced and equitable industrial development in Bundelkhand.”

International and National Investors Participate

The conclave witnessed participation from international delegations from countries like Mongolia, Nigeria, Kenya, Canada, Iran, and Thailand. Additionally, investors and over 150 industrialists from 10 Indian states took part, representing sectors like chemicals, textiles, garments, renewable energy, agriculture processing, and tourism.

Chief Minister Dr. Yadav also highlighted that over 60 startups participated, with some winning significant awards. The winning startups received prize money in the lakhs, along with trophies and certificates of recognition.

Major Investment Proposals Announced

During the conclave, 96 Letters of Intent (LOIs) were issued for various industrial units, covering 240 acres of land, with a total investment commitment of over ₹1,560 crore. This investment is set to create over 5,900 jobs. There was also a focus on encouraging partnerships between large industries and MSMEs (Micro, Small, and Medium Enterprises), which will benefit small businesses and further strengthen the state's industrial ecosystem.

Copper Industry and Data Center Developments

Chief Minister Dr. Yadav revealed plans for a ₹1,000 crore copper industry, inspired by the region’s mineral-rich Bundelkhand mines. Additionally, Madhya Pradesh’s first data center will be established in Sagar, with an investment of ₹1,700 crore, expected to provide employment for 500 to 1,000 people.

New Industrial Plants and Employment Generation

Several prominent industrial groups announced their plans to set up industries in Madhya Pradesh, including:

  • Geetanjali Group, investing ₹3,200 crore to establish a steel manufacturing industry in Niwari district, creating 1,250 jobs.
  • Pacific Meta Steel, investing ₹250 crore in a mining industry in Chhatarpur, generating 300 jobs.
  • Eco Cement, investing ₹2,000 crore to set up a cement plant in Panna, creating 1,000 jobs.
  • Fly Ola Airlines announced plans to invest ₹1,800 crore to set up air services in Sagar, Umaria, Neemuch, and Singrauli, providing Sagar with enhanced air connectivity.

Oil and Gas Sector Opportunities

ONGC representatives stated that gas production is expected to commence in Hata district by 2026-27, which will drive the growth of gas-based industries in the region. The state government is also exploring gas-based industrial opportunities in Balaghat and Mandla districts.

Promotion of Investment and Industrial Offices

To attract more investment, Chief Minister Dr. Yadav announced the opening of a new office in Coimbatore, Tamil Nadu, enabling direct communication between Tamil Nadu investors and the Madhya Pradesh government. Similar offices will also be established in Kolkata and Mumbai to encourage investment from other states.

A Bright Industrial Future for MP

The Chief Minister emphasized that the state’s favorable industrial policies and growing investment environment have led to a surge in industrial setup proposals. He expressed optimism that Madhya Pradesh will achieve its industrial investment targets within the next 3-4 years.

Chief Minister Dr. Yadav concluded, “Today, the Sagar conclave has received investment proposals worth ₹23,000 crore, which will create around 27,875 jobs. This is a significant step towards the state's development, and we are confident of achieving our industrial goals ahead of schedule.”

In closing, the Chief Minister announced the establishment of a new mega industrial park in Sagar, which will provide thousands of jobs. Additionally, a new bank branch will be opened in the Sindhua Industrial Area in Sagar, offering financial services to local residents and investors.