New dimension in MP’s industrial development, first FDI-funded electronic cable industry inaugurated
Bhopal: A new dimension was added to Madhya Pradesh’s industrial development today with the inauguration of first unit of FDI-funded electronic cable industry by Commerce, Industries and Employment Minister Shri Kailash Vijayvargiya at Pilookheri in Rajgarh district today. Its cost is Rs. 60 crore while the a total of Rs. 150 crore foreign direct investment will be made in the project.
The unit has been set up by multinational company Messrs Lapp India, Germany. Company founder and chairman Shri Andres Lapp and Shri Singbert Lapp of the Managing Board were especially present at the inaugural function. This is second production unit of the company in India after Bengaluru. The State Government had allotted 29 acre land for the unit on January 13, 2011. The total production capacity of the unit is 3,65000 KMS electronic cables. After expansion, its capacity will go upto nine lakh KMS, in which foreign direct investment will be to the tune of Rs. 150 crore. The unit will provide 150 direct and 200 indirect jobs.
On the occasion, Industries Minister Shri Kailash Vijaywargiya said that the State Government is providing every possible assistance to industrial houses for capital investment. As a result, Madhya Pradesh is attracting investors despite global recession. MoUs worth Rs. 4 lakh 31 thousand crore were signed during Global Investors Summit, Indore, which will be implemented in right earnest. He said that 16 more IT sector companies are coming to Madhya Pradesh. He urged the industrialists having established this unit to provide maximum number of jobs to locals. Shri Vijaywargiya said that congenial atmosphere is prevailing for investment in the state.
Lapp India founder Shri Sinbert Lapp and Chairman Shri Andres Lapp expressed gratitude to Madhya Pradesh government over facilities provided for establishing this unit. Lapp India Pvt. Ltd. is basically a Germany-based company.
Managing Director of Audyogik Vikas Kendra Nigam Shri J.N. Vyas, Rajgarh collector Shri M.B. Ojha, Lapp India Company’s officers and other people were present on the occasion.
