Raipur: Chhattisgarh government decided to cancel 158 Memorandum of understanding (MoU)s signed with the various companies.
The decision was taken in the meeting of Chhattisgarh State Investment and Promotion Board held under the chair of Chief Minister Bhupesh Baghel in Raipur, a government statement said on Thursday.
The MoUs were signed between 2001-18 during the regime of ex-CM Ajit Jogi and ex-CM Dr. Raman Singh and the proceedings have not started yet, the official communique said.
In the review meeting it was said, the MoU remained non-functional, no progress was made till the date.
In order to have investment in the state, Global Investors Meets were organized in 2001, 2012 and 2018 and 211 MoUs of worth Rs 3,03,115 crore 70 lakh were signed with various companies, out of which actual capital investment of Rs 78776.36 crore was only occurred, the communique said.
Production has started in 67 MoUs, meanwhile implementation has started in 61 MoUs, while works have not yet started in 55 MoUs. This is the reason why these 55 MoU were cancelled. Similarly, in the Global Investors' Meet, 275 MoUs were signed for capital investment of Rs. 93,830 crores 69 lakhs, out of which the actual capital investment of Rs. 2003.59 crore was received, the communique said.
25 projects have already been started after site selection, meanwhile no work has started in the remaining 103 MoUs.
Therefore, the board has cancelled 103 inactive MoUs on Thursday.
In the meeting, the officials informed that 115 MoUs are in force since the year 2019 with the proposed capital investment of Rs 46,937 crore. Implementation in 92 of these projects has started, whereas production has been started in one of the projects. Implementation of 23 new MoUs is yet to be started.