Advantage Vidarbha: Investment of crores in process

Published in The Hitavada on February 25, 2013

Advantage Vidarbha: Rs 61,629 crore investment ‘in process’


* Chandrapur tops the chart with investment of Rs 20,509 crore in process

By Kartik Lokhande

If the plans of Maharashtra Government are executed well and ‘in process’ investment materialises, it will be ‘Advantage Vidarbha’ in true sense in the next few years. So far, Vidarbha region has attracted an investment of Rs 26,563 crore in micro, small, medium, large, and mega enterprises and investment of Rs 61,629 crore more is ‘in process’.

As per the investment projections for Vidarbha, ‘in process’ investment of Rs 61,629 crore is likely in 18,397 units and it is expected to generate 2,16,638 new jobs in the region. Interestingly, projections show Chandrapur and Gadchiroli to be the top-notchers in investment. Of the total ‘in process’ investment, a major chunk of Rs 20,509 crore is expected to come up in Chandrapur district alone and that of Rs 14,464 crore is expected to go to Gadchiroli district. According to sources in MIDC, this is so because of huge mineral deposits in these two districts.

Chandrapur is known for its rich coal deposits, mineral wealth, and forest produce apart from wildlife. All these factors tilt the balance in favour of Chandrapur. Already, it has attracted huge investment in cement factories, thermal power stations, sponge iron units, coal exploration, eco-tourism development etc. Many more coal-based power plants are proposed in this district. However, owing to high level of pollution and huge requirement of water, residents have been opposing high-emission industries.

As far as Gadchiroli district is concerned, it is rich in mineral and forest wealth. However, owing to Naxal problem, investors have security concerns about their investment. As a result, iron ore exploration at Surjagarh in the district could not be done. Besides, Gadchiroli district has rail connectivity of only 18.5 kms, highlighting lack of proper mode of bulk transportation. Still, it appears, Maharashtra Government has made up its mind to provide a boost to industrial development of Gadchiroli district. As a result, MIDC data shows ‘in process’ investment of Rs 14,464 crore in Gadchiroli district.

Nagpur, the Second Capital of Maharashtra, is projected to see an investment of Rs 9,922 crore. Though the investment quantum appears to be lesser than Chandrapur and Gadchiroli districts, number of jobs likely to be generated in Nagpur district is the highest in the region at 69,494. Besides, industry sources said, investment coming to Nagpur is mainly in service, Information Technology and IT-enabled services, logistics, and transportation sectors. Another divisional headquarter in the region -- Amravati -- has investment of Rs 1,855 crore ‘in process’ and it is likely to generate 35,486 jobs. In a district like Buldhana, though ‘in process’ investment is pegged at only Rs 379 crore, the figure may well go up. Recently, Unilever announced to set up its aerosol deodorant facility in Khamgaon in Buldhana district. This facility alone is set to fetch Rs 360 crore investment to the district.

According to MIDC, already, many highly reputed companies in the country have invested and are investing in Vidarbha region owing to its many strengths. Some of these corporate giants include Tata, Reliance, Raymond, Mahindra and Mahindra, Indo Rama, ACC, Ultratech, Ambuja, Bilt Industries, R P Goenka, Ashok Leyland, Lloyd Steels, Uttam Galva, Sunflag etc. Several IT and manufacturing giants are in the process of setting up their facilities in the region. These include Tata Consultancy Services (TCS), Wipro, Bharat Heavy Industries Limited (BHEL), Bharat Dynamics etc.


----------------BOX-------------------
District-wise investment in Vidarbha
--------------------------------------------------------------------------------------------------------------
District         Current Investment     Investment    Employment
                                                      in Process     Expected
--------------------------------------------------------------------------------------------------------------
Nagpur          Rs 10,917 cr              Rs 9,922 cr     69,494
Chandrapur   Rs 6,110 cr               Rs 20,509 cr     19,044
Wardha         Rs 5,210 cr                 Rs 3,708 cr     11,455
Bhandara       Rs 1,170 cr                 Rs 2,759 cr     8,060
Gondia          Rs 125 cr                       Rs 648 cr     3,910
Gadchiroli     Rs 298 cr                   Rs 14,464 cr     7,677
Amravati       Rs 484 cr                     Rs 1,855 cr     35,486
Akola           Rs 347 cr                        Rs 427 cr     16,614
Buldhana      Rs 1,016 cr                     Rs 379 cr     24,284
Yavatmal      Rs 675 cr                      Rs 6,818 cr     14,861
Washim        Rs 211 cr                         Rs 140 cr     5,753
--------------------------------------------------------------------------------------------------------------
Total             Rs 26,563 cr               Rs 61,629 cr     2,16,638
--------------------------------------------------------------------------------------------------------------

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