7 Proposals approved in the 5th meeting of the Board of Investment

• 17 Aug 2023

Why is News?

On August 16, 2023, in the fifth meeting of the Board of Investment held in Jaipur, Chief Minister Ashok Gehlot approved giving customized packages to 7 projects to encourage investment of Rs 24 thousand 681 crore in the state.

Key Points:

• Employment opportunities will be created for more than 10,000 people with the proposals approved in the meeting.
• In the meeting, the proposals regarding package, concession, exemption and other facilities for the enterprises were approved by the board. The approved proposals are mainly related to solar cells and modules, auto components, juice and dairy products, and cement sectors.
• It is worth mentioning that the chief minister is the chairman of this board, constituted to provide speedy approval and permission to investment proposals under the One Stop Shop system, while the Industries Minister is its vice-chairman.
• On this occasion, the Chief Minister said that many important policies and programs have been implemented by the state government in the last four and a half years to increase investment in the state.
• Various facilities are being provided to entrepreneurs and investors in Rajasthan through MSME Policy, Rajasthan Investment Promotion Scheme (RIPS-2019), RIPS 2022, Rajasthan Industrial Development Policy-2019, One Stop Shop System and Single Window System. This has increased investment and employment in the state.
• He said that the state government has resolved to include Rajasthan in the leading states under Mission 2030 and industrial development and increase in investment have an important role in this. By the year 2030, the state government aims to increase the state's GDP by about two and a half times to Rs 35.71 lakh crore.
• It is known that in the year 2018-19, the state's GDP was around Rs 9 lakh 11 thousand crore, which has now increased to around Rs 14.14 lakh crore.
• It is known that the state has immense possibilities for solar energy. Solar parks are being set up for this. Possibilities should also be explored to set up production units of components to be installed in the solar park in the state. With this, the revenue of the state will increase, employment will increase and modules and components will be easily available to the units setting up solar parks.
• The following proposals were approved in the meeting:
  • Project of Kamlesh Metacast Pvt Ltd: It will consist of 1.65 MTPA clinker, 2.2 MTPA cement and a 35 MW captive solar plant. Its investment amount is Rs 1715 crore. Under this, 825 people will get employment. For this, the place has been selected in Pindwara of Sirohi district.
  • Project of Hindustan Zinc Fertilizer Pvt Ltd: It will have a 0.51 MTPA Fertilizer Complex [Di-Ammonium Phosphate (DAP), & NPK]. Its investment amount is Rs 1655 crore. Under this, 820 people will get employment. For this, the place has been selected in the Gangrar of Chittorgarh district.
  • Project of Vari Energies Limited: It will consist of ingots, wafers, solar cells and solar modules (12 GW capacity in two phases). Its investment amount is Rs 15,750 crore. Under this, 3800 people will get employment. For this, the place has been selected in the Kankani industrial area of Jodhpur district.
  • Project of JSW Renewable Technologies Limited: It will consist of ingots, wafers, solar cells and solar modules (1 GW capacity). Its investment amount is Rs 1674 crore. Under this, in 1880 people will get employment. For this, the place has been selected in Barmer.
  • Project of Baxi Group: It will involve auto components. Its investment amount is Rs 1005 crore. Under this, 2000 people will get employment. For this, the place has been selected in Bhiwadi and Neemrana industrial areas.
  • Kandhari Global Beverages Pvt Ltd's project: It will include an integrated ultra mega facility for Coca-Cola brand juices, and dairy products. Its investment amount is Rs 1010 crore. Under this, 805 people will get employment. For this, the place has been selected in Bundi district.
  • Project of Shree Cement Limited: It is an integrated project of 3 MTPA Clinker, 4.4 MTPA Cement Plant. The investment amount in this is Rs 1872 crore. Under this, 500 people will get employment. For this, the place has been selected in Jaitaran of Beawar district.