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Haryana to attract Investment of over 4000 cr, expects sizeable contribution by NRIs
Tuesday, Oct 7, 2008

With 260 industrial entrepreneur memoranda (IEMs) in hand, the Haryana government is trying to attract an investment of over Rs 4,000 crore. Out of this, the government has envisaged NRI investment of Rs 150 crore from 59 non-resident Indians (NRIs). All these NRIs have already been allotted plots in the state. The government is also expecting equal amount of investment from a leading textiles manufacturer that plans to set up a cement grinding plant at Panipat. "This has been possible due to consistent efforts by the government to provide better infrastructure and congenial atmosphere to investors," said a senior official.
Sources in the government said the Aditya Birla Group is also setting up a cement grinding unit at a cost of Rs 115 crore at Panipat. The Adani Group of Industries plans to invest Rs 150 crore to set up an inland container depot at Palwal. Besides, the government has offers for foreign direct investment from various big industrialists, including Rs 1,000 crore by Maruti Suzuki Vendors, Rs 650 crore by Suzuki Diesel Plant, Rs 250 crore by YKK Expansion, Rs 125 crore by S. Diagnostic Centre, Rs 115 crore by NTN and Rs 65 crore by Samsung.
The government has been successfully implementing the IEMs, though in many cases IEMs fail to materialise into actual investment. However, the state has still ranked first in the country in the implementation of IEMs, with a percentage of 54 as compared to the all-India average of 37 per cent. The infrastructure projects are likely to have two to three times more investment as compared to that of industrial sector in the next decade. A National Institute of Food Technology Entrepreneurship and Management would be set up at Kundli with an investment of Rs 350 crore. A National Automotive Testing and Research Infrastructure Project would also be set up at Manesar with an investment of Rs 400 crore. The Central Institute of Plastic Engineering and Technology has started partial functioning in a rented building at Panipat. The setting up of the institute involved an investment of Rs 23 crore. With all this in its basket, the Hooda government is aiming to give a major boost to industrial investment in the state. "We are hopeful of further improving our implementation graph of IEMs. Most of the proposals are already under process and many of them have actually taken off in various parts of the state," said a senior official.



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