Himachal Pradesh gets Rs 10k Cr investment proposals

Leading companies including Walmart, Tata Group and Microtek International proposed investments worth Rs 10,000 crore in Himachal Pradesh at an Investors Meet. The two day meet, which began in New Delhi, is being presided over by state Chief Minister Virbhadra Singh. Proposals for setting up industrial units to manufacture products in Himachal Pradesh were discussed and the meet saw a participation of about 1,400 investors. Proposals belonging to sectors like retail, housing, defence, solar energy and healthcare also came up.

The proposal to invest approximately Rs 1,000 crore for setting up portable self service fuel filling stations (petrol pumps), a new world wide patented technology by Alinz (India), in collaboration with Czech Republic was also discussed. Walmart India CEO Krish Iyer extended a proposal to open as many as five retail stores with an investment of USD 10 million generating employment for 2,000 persons in the state. "They also want to go ahead with investment in schemes for women empowerment, training and education. They requested for two to three acres of land somewhere in the suburbs of Shimla, Solan, Mandi, Dharamsala, Kangara or Palampur", a release issued by the Chief Minister's office said.

Tata Group came with proposal of expansion of already existing residential housing project in the State and Himalayan Water Plant. Possibility of expansion of their existing Knowledge Processing Organisations (KPOs) was also discussed along with setting up of skill based centre of excellence to train local Himachali youth in soft skills. "The government assured representatives of Tata Group of companies of all possible assistance required for setting up new ventures in the state", the release said.

Proposal also came to expand Sara Textiles limited, the firms making towels of export quality, which sought additional expansion of Rs 450 crore in the integrated textile plant. This would pave the way to employment of more than 1,000 people. Similarly, Indorama sought expansion of their existing unit with an additional investment of Rs 300 crore with employment opportunities for more than 300 people.

A proposal also came by Microtek International to invest Rs 400 crore for expanding existing units and to add new plants to manufacture solar equipments in a big way and to manufacture solar invertors, solar batteries to harness solar energy. "It was agreed in principle to sign an MoU with Indian Railway Catering and Tourism Corporation (IRCTC) with government of Himachal Pradesh for marketing of Himachali products and tourism", the release said.

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