MoU worth Rs 50,530 crore signed in Bihar Business Connect-2023

• 15 Dec 2023

Why in News?

According to information received from the media on December 14, 2023, during the Global Investor Summit ‘Bihar Business Connect-2023’, Memorandum of Understanding (MoU) worth Rs 50,530 crore was signed with about 300 companies from various sectors.

Key Points:

• During Bihar Business Connect-2023, Adani Enterprises Director Pranab Adani said that it has been decided to invest Rs 8,700 crore in various sectors including cement manufacturing, logistics and agro industry in Bihar. His company has already invested Rs 850 crore here.
• Other MoUs signed during Bihar Business Connect-2023 include MoU worth Rs 7,386.15 crore with Bharat Petroleum Corporation Limited, MoU worth Rs 5,230 crore with Patel Agri Industries Private Limited and MoU worth Rs 2,200 crore with Holtec International Inc.
• Apart from this, agreements worth Rs 2,000 crore were signed with Indo European Heart Hospitals and Research Institute Private Limited, Dev India Project worth Rs 1,600 crore, Star Cement worth Rs 1,000 crore, UltraTech Cement worth Rs 1,000 crore, J.K. Lakshmi Cement, Rs 800 crore with Spray Engineering Devices Limited, Rs 674 crore with Varun Beverages and Rs 650 crore with ShreeCement.
• During the program, the Chief Minister inaugurated the Logistics Policy-2023 and also released the coffee table book of the Industries Department.
• It may be noted that on December 14, 2023, Chief Minister Nitish Kumar had inaugurated the Plenary Session of Bihar Business Connect-2023 at Gyan Bhawan located at Samrat Ashoka Convention Centre.