INDORE, India, 28 October 2007 — The Global Investors’ Summit here, the business capital of central Indian state of Madhya Pradesh, got a fabulous start, when in the inaugural function, four Memorandum of Understandings (MOUs) worth Rs.57,400 crores (about $11,850 billion) were signed in the presence of the Chief Minister Shivraj Singh Chohan on the opening day of the mega event.
The first MOU was signed with Reliance Power Limited representing Anil Dhirubhai Ambani Group. Its chairman Anil Ambani was also present on the occasion. The group will set up a 3,960 MW Sasan Ultra Mega Power Plant in Sidhi district of Madhya Pradesh. A mega thermal power station at Chitrangi Tahsil of Sidhi district would also be established.
Besides, four cement manufacturing plants each with capacity of around 5 million tons per year in the vicinity of Sasan project and limestone reserves in the state would be set up.
An airstrip/airport would be developed in Sidhi district for the benefit of industrial and other development of the area. A technical institute would be set up at Bhopal.
An investment of Rs.50,000 crore (about $12,500 million) will be allocated to these projects.
The second MOU was signed between Sanghi Industries and TRIFAC. Under this, a Greenfield Cement Plant of 7.0 million tons per annum will be established at Katni and Satna districts with an investment of Rs.5,000 crore (about $1250 million).
The third MOU was signed with A.C.C. Limited. The company will set up a 2.2 million tons per annum capacity state of the art cement plant at a cost of Rs.1200 crore (about $30 million).
