Uttarakhand signs MoUs worth Rs70,000-cr at investors summit
08 October 2018
The Uttarakhand Investors Summit has attracted investment proposal worth Rs70,000 crore, including Rs6,500 crore signed by Adani Group and Rs 600-crore investment proposed by the Mahindra Group.
During the investor summit, inaugurated by Prime Minister Narendra Modi on Sunday, Amul has also announced plans to assist farmers in the state for higher milk production.
The summit saw the presence of leading industrial groups such as Reliance Industries, Mahindra Group, ITC, JSW Group, Adani Group and Patanjali, among others.
Pranav Adani, executive director of Adani Enterprises, said the group aimed to exploit the opportunities in the state. Plans included investment of Rs5,000 crore in a Metro project, Rs1,000 crore in a transmission project, and Rs500 crore for a logistics park.
An MoU was also signed for the distribution of organic food. “Uttarakhand will be a bright star in resurgent India,” said Adani.
Reports quoting Pawan Goenka, Mahindra Group managing director, said the group plans to invest Rs250 crore to set up an automotive plant to produce Scorpio and Balero. It also planned to invest Rs100 crore on its tractor business and Rs200 crore towards expanding its resort business.
“The plan is to start back-up integration for a plant to produce Balero,” said Goenka, while adding that hospitality business will be expanded under the Club Mahindra brand. At present, Mahindra has five resorts in the State, which will go up to eight. Locations are being identified, and then work will start after completing the land acquisition process.
Mahindra set up an automotive plant in Haridwar in 2006, which has so far produced 16-lakh vehicles, and is expected to produce 1.5-lakh vehicles during the current fiscal. The group also produces 1,000 electric three-wheelers every month. It has employed more than 10,000 people in various businesses, and now plans to raise investment in the next 2-3 years.
Yoga Guru Baba Ramdev’s Patanjali has plans to invest Rs2,500 crore in the state, according to its managing director Acharya Balkrishna.
Patanjali plans to invest in sectors like education, food processing, and in wellness, among other areas. The company, at present, has invested Rs2,100 crore in the state, which is 6 per cent of the total private investment of Rs37,000 crore in the state.
The company claims to provide direct employment to 30,000 people in the state, which is 10 per cent of the total employment provided by the private sector.
Amul, the milk co-operative, has announced plans to assist farmers in the State. RS Sodhi, managing director of Amul, said an MoU has been signed to promote co-operative dairy. The state consumes dairy products worth Rs2,000 crore every year, but produces just 15 per cent of its consumption.
Mukesh Ambani-led Reliance Industries Ltd, which has already invested over Rs4,000 crore in Uttarakhand, plans to extend Jio internet service to most of the 2,385-plus government schools and colleges in two years.
Speaking at the Uttarakhand Investors Summit in Dehradun, Ambani said he wants to convert ‘Devbhoomi Uttarakhand’ into ‘Digital Devbhoomi’.
“Jio will boost sustainable tourism. Jio will improve the delivery of healthcare, education and government services and improve the life of every citizen,” he said. Jio is committed to a ‘Digital Uttarakhand’ where every citizen can have the best quality digital connectivity and services, he said.
Reliance also has over 100 retail stores and plans to continue grow these at a healthy rate, he added.