Madhya Pradesh cabinet approves Rs 100 crore company for Jabalpur-Indore industrial corridor
The Madhya Pradesh government has created a special purpose vehicle (SPV), the Jabalpur-Indore Economic Corridor Development Company Limited, to move the project of Jabalpur Industrial corridor up the agenda. The Board will be 100% government-owned and the company will be funded with Rs 100 crore as a down payment.
The Cabinet, led by Chief Minister Mohan Yadav, approved several salient proposals in its meeting aimed at promoting in the infrastructure sector and in education and public services.
The proposed industrial corridor will further enhance connectivity and Industrial development of Mahakoshal Region of Madhya Pradesh as well as in other than the region and will provide new business opportunity to the people of Madhya Pradesh. It will be linked with Jabalpur and will further run towards Indore, the commercial hub of the state.
Chief Minister Yadav stated that the project would help in providing necessary infrastructure to the businesses, thus promoting the industrial development and enhancing business relationships between the public and private sectors. He indicated the region’s potential contribution to the tourism sector, mining, agriculture and heavy industries, including good road, electric power, water, and aviation connections for development.
The new company has been spun off by the state’s industries department. It will have its governing council headed by the chief minister to enable the quicker decision making and coordination of various departments. It further intends to use the lessons it has learnt from running other Government owned companies to facilitate implementation.
In the meeting, the Cabinet approved bus transportation services at the Sandipani schools in the tribal areas with Rs 240 crores. A few selected District Collectors will be given permission to fix transportation fees. The government has also sanctioned the establishment of new Women and Child Development offices in the new districts.
The Cabinet further gave its nod to operations of various irrigation schemes under the Water Resources Department and a scheme worth Rs 1,691 crore under AYUSH Department. It also provided a green signal worth of Rs 3,000 crore to continue schemes under the School Education Department.
The industrial corridor project will aim to draw in investment and stimulate economic growth through better infrastructure and the integration of development in the area. It will be dependent on the effective implementation, cooperation between the departments involved.