State Bureau, Lucknow. Memorandum of Understanding (MoU) was signed with various companies for investment of Rs 12,820 crore in the state on Wednesday at the ongoing World Economic Forum conference in Davos, Switzerland. According to the MoU, REC Limited will invest Rs 8,000 crore for a 500 MW waste-to-energy project in the state.
Also, Rashmi Metallurgical Private Limited will spend Rs 4,000 crore on setting up an integrated steel plant of MTPA capacity in the state. At the same time, Carbon Compass Services LLP will invest Rs 820 crore on setting up briquetting and CBG (compressed biogas) plants, out of which Rs 30 crore is proposed for monetization initiative.
A delegation of six state government officials, led by Finance Minister Suresh Khanna, held a meeting regarding investment with representatives of many leading institutions including Tech Mahindra, Grundfos, B8, Philip Maris International, Adecco, Rashmi Group, Kuebler Group, Schneider Electric, Godrej and Stanford University on the third day of the World Economic Forum conference. Clean energy, manufacturing, industrial infrastructure, water solutions, tech services, skilling, sustainability and innovation-led growth opportunities were discussed in these meetings.
Apart from this, Renergy Dynamics Private Limited has agreed to set up a CBG plant with a capacity of 70 tonnes per day in the state. This will increase the income of villagers. At the same time, beverage companies AB InBev and Cisco also
Met the state government delegation and discussed investment possibilities in the state. The foundation of investment worth about Rs 2.5 lakh crore has been laid in three days in the conference. There is a possibility of an MoU for investment of about Rs 3 lakh crore in the conference which will run till January 23.
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