On his return from visits to Japan and South Korea in October 2015, Chief Minister Shivraj Singh Chouhan said that the state government and private sector entities in Japan and South Korea have agreed in principle to pump in thousands of crores of rupees in infrastructure and industrial projects in Madhya Pradesh. “The Japan International Cooperation Agency (JICA) would extend Rs 12,000 crore loan for 50 years for Metro projects in Bhopal and Indore. The JICA has also agreed to finance Rs 1,200 crore for the MP Transmission Company and Rs 2,000 crore loan has been sanctioned for the Village Group Potable Water scheme of MP,” Chouhan said. JICA also assured the MP delegation that it would cooperate in the establishment of the Japan Industrial Township (JIT) at Pithmapur and would help out Japanese companies which are eager to set up base there.
“JIT would be the 12th investment destination from Japan in India as their government has sanctioned this project,” Chouhan said. The New Energy and Industrial Technology Organisation has assured to partner with the Madhya Pradesh government to promote renewable technology in the state. The Japan Soft Bank Corp has agreed to invest Rs 10,000 crore in renewable energy projects in MP. Other firms engaged in optical fibres, food processing, cold storage chain, e-rickshaw and power plants showed keen interest in setting up ventures in MP. Panasonic also promised to set up 20 MW power plant in the state. Chouhan said that Japan and South Korea would be partners during the Global Investors’ Summit 2016.
On his South Korean trip, Chouhan said he met officials of eight leading companies from South Korea and discussed investment proposals with 30 others. “I visited the Smart City at Incheon and invited CISCO for management of mega event Mahakumbh to be held in Ujjain in 2016.” Several South Korean majors, including Hyundai, Korean Telecom, HM Digital and others, have shown interest in investment prospects in Madhya Pradesh,” Chouhan said.