More than 300 companies, both domestic and international, have entered into Memoranda of Understanding (MoUs) for investments totaling Rs 50,530 crore in Bihar. Adani Group Enterprises is set to contribute significantly with investments amounting to Rs 8,700 crore in the state. The MoUs were formalized during the ‘Bihar Business Connect-2023,’ a global investor summit spanning two days and concluding on Thursday, where representatives from the companies and senior Bihar government officials were involved.
Bihar’s Industries Minister Sameer Kumar Mahaseth expressed satisfaction over the keen interest shown by investors from various parts of the world and India. Some notable MoUs were signed with Bharat Petroleum for an investment exceeding Rs 7,000 crore, Patel Agri for over Rs 5,200 crore, Holtech International for more than Rs 2,200 crore, and Indo-European Heart Hospitals and Research Institute for over Rs 2,000 crore.
Mahaseth revealed that a total of 300 companies, both domestic and international, inked MoUs during the summit, contributing to the substantial investment inflow of Rs 50,530 crore. The minister emphasized the state government’s efforts to create an additional 3,000-acre land bank to cater to entrepreneurs establishing industrial units, complementing the existing 3,000 acres allocated for industrial use.
While Chief Minister Nitish Kumar personally met with investors and assured them of government support, he did not address the gathering as per the official program. Meanwhile, Pranav Adani, Director of Adani Enterprises, commended Nitish Kumar’s vision, recalling his introduction of internet-based railway ticket booking in 2003, a service now recognized as the busiest rail ticket booking system globally. Adani Group, which has already invested Rs 850 crore in Bihar, intends to increase this investment significantly to over Rs 8,000 crore, including the establishment of a new cement industry in the state.
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