Rajasthan gets Rs 1.94-lakh cr investment commitments from investors for various sectors

The Rajasthan government received investment commitments of Rs 1.94 lakh crore from a wide range of investors for sectors including renewable energy, mines and minerals, engineering and pharma, at a roadshow held here on Wednesday.

Of this, the state signed memoranda of understanding (MoUs) worth Rs 1,27,459 crore and letters of intent (LoI) to the tune of Rs 67,379 crore.

These MoUs and LoIs were signed in the presence of the state’s Commerce and Industries Minister Shakuntala Rawat.

JSW Future Energy has proposed to invest Rs 40,000 crore to set up a 10,000-megawatt (MW) renewable energy project in the Jaisalmer district, while the Vedanta group has proposed exploration expansion worth Rs 33,350 crore in the state, the Rajasthan government announced at the ‘Invest Rajasthan Roadshow’.

Similarly, Greenko Energies has proposed a Rs 30,000-crore integrated renewable energy storage project, and Adani Green Energy has proposed a Rs 20,000-crore renewable energy project of 4,000 MW in Jaisalmer, Barmer, Jalore and Jodhpur districts of the state, it said.

Adani Total Gas has proposed a Rs 3,000-crore city gas supply project in Udaipur, Bhilwara, Chittorgarh and Bundi, the Rajasthan government said.

It added that Krish Pharma has proposed a pharma manufacturing unit in Sirohi with an investment of Rs 750 crore, among other 40 proposed projects.

Besides, the state also signed national partner CII to attract investments in the state in various sectors, it said.

With this prelude of state-level investors’ summit, the state has successfully bagged MoUs worth Rs 1,27,459 cr and LoIs worth Rs 67,379 crore, totalling over Rs 1,94,800 crore investment commitments, it said.

”Rajasthan is the largest state of India and it is full of all kinds of natural resources. It has an adequate power supply, water resources, roads and other necessary infrastructure facilities that are connecting the neighbouring states and with closer proximity to the country’s capital,” said Rawat.

There are a variety of minerals here, there is diversity and prosperity in agricultural products and above all, there is a government of reformist approach to maintaining law and order, she said adding that ”these factors attract everyone to invest in the state”.

The investments are majorly proposed in sectors such as renewable energy, mines and minerals, city gas, pharma and engineering, among others.

Rawat further added, ”The state government has taken a very unique initiative by setting up the OSS (one-stop-shop) system. Any investors looking to invest over Rs 10 crore in the state can apply easily and start doing business. Investments above Rs 100 crore are entitled to get the customised incentives package from the state government.” The Rajasthan government is set to organise a two-day Investment Summit next month to invite businesses to explore in the state and for this purpose holding various webinars and national and international roadshows, among others, to connect with investors.