MP Secures ₹1,550 Crore Investment Proposals For Gwalior Telecom Manufacturing Zone

Bhopal (Madhya Pradesh): Madhya Pradesh received investment proposals worth Rs 1,550 crore for the Gwalior Telecom Manufacturing Zone (TMZ) during an investors' round table meeting chaired by Chief Minister Mohan Yadav in Mumbai on Tuesday. The proposed investments are expected to create employment opportunities for 3,600 people.

The CM said that the state had received investment proposals worth Rs 3,500 crore during the recently held round table meeting with investors in Delhi.

The state government and the Centre have jointly established the Telecom Manufacturing Zone in Gwalior, which is close to the Delhi-NCR region. The telecom zone will provide modern infrastructure, better supply chains and world-class facilities for the telecom industry.

Yadav told investors that it was the right time to invest in Madhya Pradesh, which has investor-friendly policies. He said the state also has a skilled workforce for industrial development along with better law and order.

Project rollout

Union telecom minister Jyotiraditya Scindia said that 170 acres of land are available in the first phase of the project. Investors will get electricity at Rs 2 per unit.

He said the foundation stone for the project would be laid shortly. Scindia added that after the New Delhi round table meeting, 17 companies had taken the investment initiative.

Investor incentives

Investors to get water, electricity and land at cheaper rates: Mandloi

Additional chief secretary, industries, Neeraj Mandloi said investors would get water, electricity and land at cheaper rates. He said an additional 400 acres of land were being considered for the second phase of the Gwalior Telecom Manufacturing Zone.

Mandloi said investors would receive financial assistance of Rs 5,000 per worker every month. He added that if an investor invests Rs 12,000 crore, the state government would return Rs 8,000 crore in the form of subsidies.

Company Investment in crores

M V Electrosystem

Rs 700

Anant Systems

Rs 400

Sterlite technology Ltd

Rs 200

VNT

Rs 150

Tescom

Rs 100

Total

1550