Nagaland receives Rs 4510 crore business investment intent in B20 meet

Kohima, April 06 (MTNews): Nagaland received business interests from both national and international business delegates in various sectors worth Rs 4510 crore during the B20 Meet in Kohima on 5 April, an official release said on Thursday.



Advisor to Chief Minister and Chairman of IDAN, Abu Metha with Dr Srinivas Ananth, CEO of Thomson Computing & Semiconductors India Pvt Ltd after their signing of MoU (Photo @abumetha)



Nagaland on Wednesday hosted the fourth and last B20 meeting as part of the G20 summit held in the North East Region (NER). The first three meets were held in Manipur, Mizoram and Sikkim. A total of 60 delegates from 27 countries participated in the Kohima B20 meet.


Representatives from the business community of Nagaland as well as government departments also participated during the Business to Business (B2B) and Business to Government (B2G) negotiations coordinated by Confederation of Indian Industry (CII), a DIPR report said.


The B2B/B2G witnessed signing of Memorandum of Understanding (MoU) between Government of Nagaland and investors for investments in renewable energy to the tune of Rs 1,000 crore over the next three years.


The B2B/B2G session also witnessed a substantial business interest with a potential investment size of Rs 1,500 crore in biofuels.


The private sector also evinced keen business interest with an investment proposition of around Rs 10 crore in the health sector, the report said.


It also said that there are other business propositions to the tune of Rs 2,000 crore in agro and food processing, rubber, MSME, medical tourism, sports and IT sectors which will further be explored and firmed up in due course.


It was also mentioned that the Investment & Development Authority of Nagaland (IDAN) in coordination with the business fraternity and line departments would follow up and provide end to end facilitation to the potential investors.


“The state government will continue to make concerted efforts with active support of the Ministry of DoNER, DPIIT and Invest India, and in tandem with industrial associations and relevant stakeholders for ushering appropriate policies to convert these expressed business interests into projects on the ground,” the report said.


With the NE Global Investment Summit, organised by DoNER Ministry and DPIIT fast approaching, it was reported that the state has submitted its policy recommendations for the new North East Industrial Development Scheme (NEIDS), which would help facilitate in fast forwarding the process of grounding business propositions and effectively improving the business climate of the state.


Meanwhile, Advisor to Chief Minister and Chairman of IDAN, Abu Metha in a series of tweets on Thursday said Poonawala Group has signed a Letter of Intent for establishment of an MRI facility and blood bank in collaboration with Eden Medical Centre worth 10 crore rupees.


Metha also announced that a memorandum of understanding was signed with Thompson Computing & Semiconductors India Private Limited for investments in Renewable Energy worth 1,000 crore rupees in Nagaland. The company was represented by Dr Srinivas Ananth, CEO and Ms Swathi Choudary, VP of Thomson Computing & Semiconductors India Pvt Ltd.


He also announced that the Numaligarh Refinery Ltd (NRL) gave a Letter of Intent for setting up an ethanol production plant based on Bamboo in the state worth 1,500 crore rupees. NRL was represented by Mr Nikunja Borthakur, Senior Chief General Manager & Director.

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