Bihar attracts record investment proposals of Rs 1.81 lakh crore at global investors’ meet

Patna, Dec 20 (PTI) The Bihar government on Friday said it has attracted record investment proposals of nearly Rs 1.81 lakh crore across different sectors such as renewable energy, food processing and manufacturing from an array of corporates, including the Adani Group, Sun Petrochemicals, and others.

At the end of the two-day global investors’ summit Bihar Business Connect 2024, Industries Secretary Bandana Preyashi said the Bihar government has signed MoUs for setting up 423 units with an investment of Rs 1,80,899 crore.

“We are overwhelmed with the response from corporates. It is beyond our expectations. We have received investment proposals of over Rs 1.8 lakh crore,” she told reporters here.

Sun Petrochemicals and Adani Group were among an array of industrial houses that lined up a record Rs 1.8 lakh crore investments across sectors in Bihar, more than triple of Rs 50,300 crore the state received at its maiden investor meet last year.

Preyashi said Sun Petrochemicals will invest Rs 36,700 crore in renewable energy, including pump hydro and solar plants.

Asked about Adani Group investment, Preyashi said the group has announced an investment of Rs 27,900 crore.

Although the Adani Group has not signed MoUs, it has announced the investment and it has been included in the total investment proposals amounting to Rs 1.81 lakh crore.

Preyashi said the government will now focus to ensure these investments materialise on the ground.

In the first edition of investors’ summit held last year, the secretary said MoUs worth Rs 50,300 crore were signed and of that, Rs 38,000 crore has taken shape.

The secretary highlighted that the maximum investment proposals have come in the renewable energy sector worth Rs 90,734 crore in 17 units.

As many as 57 MoUs were signed in general manufacturing for Rs 55,888 crore, followed by food processing sector Rs 13,663 crore in 70 units.

Preyashi said 142 MoUs were signed in urban infrastructure with investment proposals of Rs 5,566 crore.

The secretary said the Bihar government has land bank of more than 3,000 acres to set up these plants.

Many corporates are acquiring land parcels on their own, she added.

Preyashi said the renewable energy projects will take more time to become operational compared to others.

Asked about foreign investors, the secretary said Coca-Cola is investing in the state.