Rajasthan bags investment commitments worth ₹69,789 Cr

The Rajasthan government on Wednesday organised a MoU signing ceremony in the national capital as part of its upcoming investors summit — Invest Rajasthan 2022.

The state government has inked investment MoUs worth ₹69,789.93 crore at the event, which includes Avaada Group’s proposed ₹40,000 crore investment for Green Hydrogen & Ammonia, and O2 Power SG Pte’s proposed ₹25,000 crore investment in Renewable Energy (RE) and Solar Power in various districts of the state.

New benchmark

“Setting a new benchmark, MoUs of ₹69,789.93 crore have been successfully signed by the Rajasthan government, creating a total of 11,846 direct employment opportunities. The investments were majorly envisaged in various districts across the state including Bhilwara, Chittorgarh, Jhalawar, Ajmer, Jaipur, Udaipur, Alwar, etc where RIICO has developed special sectoral zones over the years,” the state government said in a statement.

The MoU signing ceremony was led by Chief Minister Ashok Gehlot, Industries & Commerce Minister Shakuntla Rawat, Chairman of Rajasthan Small Industries Corporation Rajiv Arora, Chief Secretary Usha Sharma including senior state government officials.

Speaking at the event, Gehlot said “I would like to hear and understand the problems that investors face investing in Rajasthan. I assure you that I am committed to provide solutions to you. Rajasthan has come a long way as a state investing heavily into education, health, infrastructure, refinery, petrochemicals, renewable energy, etc.”

Strategically located

Industries play a vital role in all development. With good law and order situation, beautiful roads, focus towards health, and many other new developments, Rajasthan is a wonderful state for all to come and invest, he added.

The state’s Industries Minister, Rawat pointed out that with 40 per cent of dedicated freight corridor (DFC) area, and nearly 60 per cent of Delhi Mumbai Industrial Corridor (DMIC) passing through the state, the strategically located Rajasthan offers huge potential for investment. In the recent past, the state has introduced several interventions to promote investments such as One Stop Shop, Rajasthan Investment Promotion Scheme 2019, Facilitation of Establishment and operation Act, etc.

Rajiv Arora, Chairman, Board of Directors of Rajasthan Industries, said that, through a single portal, one can get approval on 14 different areas, which speaks volumes for the investment promotions carried out in the state.

“With a new cargo complex in Mansarovar, Jaipur, new facility for export clearance and new cargo complex in Udaipur, ICD in Bikaner, etc, we are committed to work towards Rajasthan’s growth story and we invite you to come to Rajasthan and invest,” he noted.

Competing proposals

Besides Avaada Group and O2 Power SG Pte, other investment proposals include, Asahi India Glass’ proposed investment of ₹1,400 crore in Chittorgarh, Saint Gobain’s proposal to set-up float glass manufacturing with an investment of ₹1,000 crore in Alwar, Varun Beverages establishing a manufacturing unit for carbonated soft-drinks, fruit juices and packaging products for ₹636 crore and Wipro’s proposal to invest ₹200 crore in Jaipur for hydraulic cylinders.

The Rajasthan State Industrial Development & Investment Corporation (RIICO) has developed 350 industrial areas in the land of more than 49,000 acres. Over 40,000 units are already operational in the RIICO industrial areas and more than 150 industrial parks are under planning.

Rajasthan is becoming a strategic location for any investor as it covers about 58 per cent of DMIC’s influence area. Additionally, the new gas grid project is spread in 1,730 km. The state also has 2 operational SEZs and 9 ICDs that has helped in ease of doing business.

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