Rajasthan government gives nod to projects encouraging investment of Rs 6,994 Cr – Stock Market News

Rajasthan government gives nod to projects encouraging investment of Rs 6,994 Cr

Rajasthan Chief Minister Ashok Gehlot has approved tailored packages for five projects to encourage investment of Rs 6,994 crore in the state. The go-ahead was given during the Rajasthan Board of Investment review meeting 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 programs over the past four years, including the MSME policy, the investment promotion program of the Rajasthan (RIPS) and others.

The proposals were approved at the fourth meeting of the Investment Council 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 barriers to investment should be removed with full commitment and projects should be launched within a specified timeframe.

“The newly released RIPS 2022 has been highly appreciated by investors,” the Chief Minister said, adding, “With these policies, proposals from international companies are constantly coming in. This will further enhance industrial growth.”

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

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

Wonder Cement is in the process of establishing an integrated cement plant with an investment of Rs 1,800 crore, which will have a capacity of 25 MTPA of cement and will be able to generate 40 MW. It can employ 825 people.

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

Fortelia Industries will set up a manufacturing plant for caustic soda, hydrochloric acid and related products in Dungarpur district with an investment of Rs 1,500 crore that can employ 2,070 people.

The Barve group’s project would consist of setting up a manufacturing unit for automobile assembly chassis and parts for two-wheelers, three-wheelers, four-wheelers and accessories. The total investment is said to be Rs 1,015.77 crore and will 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 for Finance Akhil Arora and others also attended the meeting. (ANI)

Rajasthan government gives nod to projects encouraging investment of Rs 6,994 Cr

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