The Hindu Business Line : Maharashtra eyeing Rs 1,075-crore foreign investment

Of this, a firm investment proposal worth Rs 86 crore, is by Histostem, a South Korean biotech (life sciences) company for a cord-blood and stem cell bank near Mumbai.

The major chunk of the investment pie is expected from Boeing Company, which is mulling a Rs 800 crore investment in the State by September 2005 - either in Nashik or Nagpur.

The Chief Minister, Mr Vilasrao Deshmukh told media persons on Monday that the Government was in talks with Boeing company to this end.

A high-powered delegation comprising the Industries Minister, Chief Secretary and other senior bureaucrats and officials from Confederation of Indian Industry had been on a two-week US tour with the Chief Minister that got over last week.

Mr Deshmukh said representatives from major entertainment and media houses in the US expressed interest in creating a theme park in Mumbai. Tishman Speyer Properties, Vornado Reality Inc and Portman Holdings, real estate development companies in the US, have also shown keenness in developing properties in the State, Mr Deshmukh said.

Atlanta-based Global Energy Solutions has proposed to set up 350 MW power plants, with municipal waste as fuel. Power companies like Messer Avatar Verma and Dodson Lindblom International (DLI) have also proposed to set up power plants in Maharashtra. DLI is keen to set up a hydro-electric project on Barvi Dam near Mumbai, Mr Deshmukh said.

During the visit a MoU was also signed between Maharashtra Government and Microsoft Corporation in order to enhance IT reach for the masses.

Coca Cola has also expressed interest in undertaking contract farming in the State for its agro-processing industry.

"There has been a sea change among the US investors since my last visit four years ago. US companies want to invest in India and are looking very positively at Maharashtra. Our mindset has also changed, from red tape we have moved on to red carpet for investors" the Chief Minister said.

In order to monitor foreign investments, the State Government has decided to open an independent desk.

Also addressing the press Mr Banmali Agrawala, Chairman, Maharashtra State Council of CII said that more US-based companies were looking towards India as an investment destination given that Chinese corporate laws were not well defined. "Investors no longer want to keep all their eggs in Chinese basket," he said.

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