Date:04/02/2005 URL: http://www.thehindubusinessline.com/2005/02/04/stories/2005020401191700.htm

Back Chhattisgarh set to add 11,000 MW

Our Bureau

Hyderabad , Feb. 3

CHHATTISGARH has emerged as one of the hottest investment destinations and has pipped traditional heavyweights — Maharashtra and Gujarat to become the number one State in terms of total investments it has managed to attract in 2003-04.

The State continues to be a favoured destination, if reports of the RBI, the Department of Industries, and the current investment trends are any indicators to the State's attractiveness, according to a delegation headed by the Chief Minister.

The Chhattisgarh Chief Minister, Dr Raman Singh, in his presentation on `myth and reality' said that the State is a "power full' State and is on course to augmenting about 11,000 mw of additional power generation capacity by the middle of XI Plan.

According to a report of the RBI, Chhattisgarh attracted total investment of Rs 7,800 crore in 2003-04, which takes it to the top in terms of overall investments to the State displacing Maharashtra and Gujarat.

"Twenty-sixth State to be created, we have graduated pretty fast and are on course to wooing investors to tap the huge latent potential in the areas of mining, particularly iron ore, coal, diamond prospecting and mining and in the areas of power generation," he said.

The capacity addition in the power sector is being provided through NTPC 2640 MW at Sipat, CSEB (600 MW), Jindal (1000 MW), Lanco Amarkantak (600 MW), Balco (900 MW), Bhilai Steel Plant (600 MW) and several other projects. This capacity addition, supported by irrigation projects, would enable self-sufficiency in power sector for the next decade.

Addressing members of the industry hosted by the Confederation of Indian Industry here, Dr Singh, along with senior Cabinet colleagues and bureaucrats, stated that the new industrial policy envisages attractive packages for investors and seeks to provide simplified clearance process. A Land Use Board has been constituted for identifying lands for industrial use, housing and other development projects, thereby expediting support services.

"From a rice bowl, we are on course to becoming a diamond bowl. Given the potential for diamond prospecting and mining, the likes of Rio Tinto, De Beers, are all actively engaged in diamond mining work and reports suggest that there is huge potential for not just diamonds and other precious stones but also gold," Dr Singh said.

Dr Singh said the State Government was actively promoting production of Jatropa that could be used for bio-diesel. The Government plans to set up outlets in 16 districts by June for sale of bio diesel.

The Government is in the process of establishing new industrial growth centres that are designed to cater to certain areas as also special projects.

Dr. Singh and senior Cabinet colleagues and bureaucrats are on a visit to Hyderabad and have undergone a Executive Training Programme at the Indian School of Business aimed at meeting the challenges of governance and see how best technology can be used to streamline governance.