158 MoUs cancelled in Chhattisgarh: CM

The Chhattisgarh government on Thursday cancelled a total of 158 MoUs, including 55 from the 2001-08 period and 103 signed during the Global Investors Meet of 2012, due to inaction.

Chief Minister Bhupesh Baghel took the decision at a meeting here of the State Investment Promotion Board which reviewed the status of MoUs.

The meeting was told that between 2001 and 2018, 211 MoUs were signed for a huge capital investment but the actual investment was Rs 78,776.36 crores.

Production has started in 67 of the MoUs and implementation in 61 MoUs while work has not started in 55 MoUs, leading to their cancellation. Similarly, at the Global Investors Meet, 275 MoUs were signed for a capital investment of Rs 93,830 crores but actual investment was only Rs 2,003.59 crores. A total of 25 projects have started while no work got off in 103 MoUs, leading to their cancellation.

Baghel sought approval of capital investment proposals to set up plants to produce ethanol from maize and sugarcane in the state at the earliest. He called for two committees to solve the problems of all the industries.

For policy matters a committee should be set up under the Industry Minister and for implementation related concerns a panel should be formed under the Chief Secretary, the Chief Minister said.

He said these committees would expedite the work of setting up of agro-based industries and iron and mineral based industries in Bastar region.

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