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Rajasthan Govt Gives Nod To Projects Encouraging Rs 6,994 Cr Investment

These projects will not only attract investment, but also create new employment opportunities in the state

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Rajasthan Chief MinisterAshok Gehlot approved customised packages for five projects to encourage investment of Rs 6,994 crore in the state. The nod was given during the Board of Investment's review meeting of Rajasthan on Saturday.

These projects will create employment opportunities for 5,415 workers. Gehlot said that in order to increase investment in the state, the Congress government has implemented many important policies and programmes in the last four years, which include MSME Policy, Rajasthan Investment Promotion Scheme (RIPS) and others.

The proposals were approved in the fourth meeting of the Board of Investment at the Chief Minister's residence on Saturday. CM Gehlot said that the state government will set up new industrial units in the state.

The chief minister further said that the obstacles in investment should be removed with full commitment and projects should be started in a time-bound manner.

"The recently released RIPS 2022 has been highly appreciated by investors," the chief minister said, adding, "With these policies, proposals from international companies are constantly coming. This will further strengthen industrial growth."

Industries and Commerce Minister Shakuntala Rawat said that a meeting is organised by the department on the first Thursday of every month to implement the proposals of investors in the state.

The approved proposals during the meeting are the projects by Wonder Cement, JK Cement, Fortelia Industries, Barve Group and establishment of Maya Hill Resort LLP Project Hotel and Resort Investment.

Wonder Cement is establishing an Integrated Cement Plant with an investment of Rs 1,800 crore, which will have a capacity of 25 MTPA cement and can generate 40 MW. It can employ 825 people.

JK Cement will be establishing a 25 MW captive solar power project with 4 MTPA clicker and 3 MTPA cement and 25 MW (waste heat recovery) WHRS captive power generation, with an investment of Rs 2,550 crore.

Fortelia Industries will be setting up a Caustic Soda, hydrochloric acid and allied products manufacturing plant in Dungarpur district with an investment of Rs 1,500 crore that can employ 2070 people.

Barve Group's project would set up a manufacturing unit of automobile assembly frames and parts for two-wheelers, three-wheelers, four-wheelers and accessories. Total investment would amount Rs 1,015.77 crore and employ 1,402 people and the project will be located in RICO region, Karoli of Alwar.

Chief Secretary Usha Sharma, Additional Chief Secretary for Industries and Commerce Veenu Gupta, Additional Chief Secretary of Finance Akhil Arora and others were also present at the meeting. (ANI)