Japanese and Korean companies to make large scale investments in MP
Bhopal. Chief Minister Shri Shivraj Singh Chouhan will return to Bhopal on October 8 after successful visit to Japan and Korea for foreign investment promotion in Madhya Pradesh . Japanese investors have evinced keen interest in investment in infrastructure, metro rail project, industrial township in Madhya Pradesh, scientific warehouses, alternative energy, construction industry, electronics development and manufacturing and development of Smart Cities. In the presence of Shri Chouhan, a Memorandum of Cooperation was signed between officers of Japan External Trade Organisation for setting up Japan Industrial Township in the state.
Southeast Asian companies are very enthusiastic for investment in Madhya Pradesh following Chief Minister Shri Chouhan’s 10-day visit. Several companies and investors informed the Chief Ministers about their plans for large scale investment in Madhya Pradesh.
On the first day of his Japan-Korea visit, proposals of Rs. 15 thousand crore investment were received for improvement in basic infrastructure in the state, specially Bhopal-Indore metro rail project, power transmission reforms and rural drinking water schemes. Shri Chouhan also held discussions with Japan International Cooperation Agency (JICA) on laying of railway line between Bhopal and Indore costing Rs. 12 thousand crore. JICA will soon send a technical team to Madhya Pradesh to study feasibility of the project. JICA also sanctioned Rs. 1038 crore loan for Madhya Pradesh Transmission System Modernization Project. The project aims at further strengthening and improving power transmission system.
Consensus was also reached for special and separate clusters for Japanese and Southeast Asian companies in the state. Large number of Japan’s small and medium entrepreneurs are keen on investment in the state.
The Chief Minister held discussions with CEO of Japan External Trade Organisation Shri Hiroyuki Ishige on investment possibilities. He also addressed a business seminar. The Japan External Trade Organization showed interest in partnership for Delhi-Mumbai Industrial Corridor. JETRO also signed a memorandum of understanding with Madhya Pradesh for the purpose.
Shri Chouhan also discussed the areas of cooperation with Executive Vice President of Fuji Electric Shri Yashio Okuno and invited the Fuji Electric to collaborate in electrical manufacturing sector. He sought cooperation for providing technology for the upcoming smart cities.
Several important decisions like establishment of special cluster for Japanese investors at Dhar were taken which will prove fruitful in future. Softbank evinced interest in completing 40 percent alternative energy generation. Japanese Commerce and Industry Department has consented to promote Japan Industrial Township at Pithampur near Indore.
During discussions with top officials of Furukawa Electric about investment in cable manufacturing, the officials informed that the company is planning to do feasibility studies for producing joint cables in MP.
The Chief Minister invited Mizuho Bank to open a branch in Madhya Pradesh. Holding dialogues with the Softbank CEO Shri Masayoshi Son on the possibilities of investments in new and renewable energy development, Shri Chouhan underlined immense investment scope in the sector. The projects for generation and development of alternative energy will be boosted due to 250 million dollar investment by Panasonic Corporation. Shri Chouhan had fruitful discussions with Executive Vice President of Panasonic Corp Shri Yoshihiko Yamada about investment plans to harness renewable energy. Describing Madhya Pradesh as perfect location to generate renewable power, Shri Yoshihiko Yamada apprised Shri Chouhan of the company’s solar energy projects designed for Madhya Pradesh. He said that the company will invest in this sector in coming two years. He also informed that feasibility studies will be conducted for 100 MW by end of 2016 and additional 100 MW in 2017 with an investment of 250 million USD.
Samsung of South Korea has evinced interest in large scale collaboration with Madhya Pradesh government. Consensus was reached on setting up of a special cell for South Korean companies and investors. Management of Cisco offered cooperation in Mahakumbh Simhastha at Ujjain. The Chief Minister enumerated benefits of investment in the state and policy reforms for investment.
During meeting with Samsung’s Vice Chairman Shri Sean Huyn, the Chief Minister suggested Samsung’s management to set up company’s research and development centre in Madhya Pradesh. He said that an investors seminar for South Korean investors will be held in Madhya Pradesh. A special cell will also be constituted for investment-related cooperation.
Shri Chouhan visited Incheon Smart City Songdo and Cisco headquarters. He said that the free economic zone has remarkable arrangements for constant development of structure for basic urban facilitation. Shri Chouhan said that several specialities of Incheon Free Zone will be included in Smart City Project of Madhya Pradesh. Shri Chouhan urged Cisco management to cooperate with the state government in Simhastha Mahakumbh.
TRIFAC signed an MoU with Indian Chamber of Commerce in Korea (ICC) and Small & Medium Business Corporation (SBC) for increasing bilateral trade.
