Bihar Business Connect 2023: MoUs Signed Worth Rs 50530 Crores

Bihar Business Connect-2023, a two-day global summit, concluded in Patna on 14 December 2023. During Bihar Business Connect, three hundred companies signed MoU for investment of Rs 50530.41 crore in Bihar. Among these, a maximum of 124 companies have shown special interest in the food processing sector.

Key points of Bihar Business Connect-2023:

• There will be an investment of Rs 14,564.11 crore in the field of food processing.
• In this, MoUs were signed for making maximum investment in terms of amount by 99 companies amounting to Rs 31,394.14 crore in the field of general manufacturing.
• Adani Group Director Pranab Adani has announced an investment of Rs 8000 crore in various sectors in Bihar.
• On December 14, 20223, on the second day of the Global Investors Conference, Chief Minister Nitish Kumar was present among the entrepreneurs for about two hours. The Chief Minister also held a separate meeting with the entrepreneurs and assured all possible help to them.
• He was accompanied by Finance Minister Vijay Chaudhary, Industries Minister Sameer Mahaseth, Water Resources Minister Sanjay Jha, Chief Secretary Aamir Subhani and Additional Chief Secretary of Industries Department Sandeep Poundrick.

Accelerating infrastructure development for Bihar's investment: 

• Bihar is making rapid progress in the field of its basic facilities like electricity, water and roads.
• Bihar is the youngest state in the country. 53% of the population here is below 35 years of age.
• 12 departments of the state are coordinating and supporting the entrepreneurs. Three thousand acres of land is already available for industry in the state.
• Apart from this, the government has written to all the District Magistrates about the plan to arrange land for 3000 more acres.

Sector-wise investment breakdown at GIS 2023: 

Investment in food sector:

• Patel Agri Industries (Nalanda): Rs 5230 crore
• Dev India Project: 1600 crores
• Bharat Urja Distillery: 614 crores
• M/s Bharat Plus Ethanol Private Limited (Buxar): Rs 565 crore
• Total proposed investment: Rs 8009 crore

General Manufacturing Sector:

• Bharat Petroleum Corporation Limited: Rs 7386.15 crore
• Haltec International: Rs 2200 crore
• Star Cement: 1000 crores
• UltraTech Cement: Rs 1000 crore
• JK Lakshmi Cement: Rs 1000 crore
• Shree Cement: 650 crores
• HPCL: 600 crores
• Total proposed investment: Rs 13836.15 crore

Service Sector:

• Indo-European Heart Hospital and Research (Patna): Rs 2000 crore
• Ctrl: 200 crores
• Total: 2200.00 crores
• Total proposed investment on the second day: Rs 24045.15 crore