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Agro meet will spawn Rs 50b investment in Maharashtra, says government

The Agro-Advantage Maharashtra convention-cum-exhibition will attract investment worth over Rs 40 billion to Rs 50 billion, according to Maharashtra Agriculture Minister Radhakrishna Vikhe-Patil.

He said potential agro investment is to the tune of Rs 10 billion to the day. Several agro-based industries from foreign countries including the US have shown keen interest in various projects showcased by the agriculturists in the state and enormous investments in agriculture sector are expected in near future.

A Yugoslovian firm has shown keen interest in importing cotton and cotton-yarn from the state. Middle-East group of companies has indicated an investment of around Rs 2 billion in tissue-culture, spirulina, alcohol-based industries, molasses, dairy and cogeneration while one of the companies has shown interest in investing $ 18 million in a cogeneration plant in Satara, he added.

An offer for a project for particle boards was also received from an overseas investor, which will be set up in Jalgaon. An agreement was also signed with Pravare Sugar Factory and Nucon Corp of the USA for setting up a cogeneration plant at Jalgaon.

He said that the said plant will generate 30 mega-watt power with bagasse as the main raw material. The government will follow a simple framework to pursue investment in the agriculture and agro-based food-processing industries, he said.

The state government has shortlisted some projects to be undertaken with Rabo Bank. The projects include particle board projects, molasses, banana processing, poultry, hatcheries, broiler and meat processing plants. A bagasse cogeneration facility is also in the list.

A memorandum of understanding with Canada- based Tertium envisages a joint venture with the state government with a corpus fund of Rs 5 billion. The Maharashtra State Industrial Development Corporation will act as nodal agency in identifying projects for investment till 2002.

UNI

Agro Advantage Maharashtra

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