The Hindu : Himachal goes all out to woo investors

Online edition of India's National Newspaper
Thursday, Jan 29, 2004

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Himachal goes all out to woo investors

By Our Staff Reporter

NEW DELHI, JAN. 28. Setting a target of Rs.15,000 crores for investment in the industrial sector in Himachal Pradesh this year, the State Chief Minister, Virbhadra Singh, today said his Government had set up a State-level "Single Window Project Clearance and Monitoring Authority" for speedy clearance of all new development projects and investments there.

Speaking at the "Investment for Himachal Pradesh" organised by the PHDCCI in the Capital, Mr. Singh said the new body, to work under his leadership, would ensure speedy clearances to all new industrial investment in the medium and large-scale sectors in the State in an efficient and transparent manner.

"Under the new arrangement, anyone wanting to invest in the State will not have to run from one department to another as all formalities for setting up an industry will be cleared under the single-window scheme. All clearances will be issued in a time-bound manner thus ensuring fast growth and development in the State," he said.

The Himachal Pradesh Chief Minister also announced formulation of a new hydro policy for the State where procedure and processes of land acquisition and transferring of clearances to independent power producers would be made more easy and simple. "We have already invited global bids for setting up of nine hydroelectricity projects worth Rs.1,800 crores in the State with a generation capacity of over 365 MW."

Stating that the State had huge untapped hydropower generation capacity, Mr. Singh said over 20,000 MW of hydropower could be generated from the five river basins -- Sutlej, Beas, Ravi, Yamuna and Chenab -- while the present installed capacity was only 3942 MW.

Asserting that Himachal Pradesh had the most conducive environment for setting up industries and starting other economic projects, Mr. Singh said the State Government had focused its resources in developing world-class infrastructure like road and rail network, telecommunication facilities and surplus power, and chalking out a package of incentives for investors.

"We have decided to develop an industrial corridor along the border areas in the foothills of the State. The corridor will extend from Paonta Sahib in Sirmour district to Sansarpur Terrace in Kangra district and includes Nahan, Kala-Amb, Parwanoo, Baddi, Barotiwala, Nalagarh, Golthai, Mehatpur, Tahliwala, Amb and Raja-ka-Bagh," Mr. Singh.

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Himachal goes all out to woo investors