Rajasthan government signs 125 MoUs for Rs 69k-crore projects; receives LoIs for over Rs 10k-crore investments

The Rajasthan government has signed multiple memorandum of understandings (MoUs) attracting proposed investments worth around Rs 69,000 crore, Rajasthan Industries Minister Shakuntala Rawat said on Wednesday.

Besides, various investors have submitted letters of intent (LoIs) for investments totaling worth Rs 10,099 crore, she said speaking at the Invest Rajasthan Roadshow-Exploring Investment Opportunities in Rajasthan here.

A total of 145 MoUs and LoIs worth over Rs 79,000 crore have been signed, the minister said at the event organised by the Rajasthan government in partnership with the Confederation of Indian Industry (CII) to showcase the business and growth opportunities present in the state.

Many big companies are already present in the state and running their businesses in various sectors, Rawat said and urged the investors to invest in Rajasthan where the government is giving subsidies on setting up new businesses.

Rajasthan Additional Chief Secretary Shubhra Singh said the investors can explore the potential in sectors like renewable energy, textile, cement, ceramic, paints, auto, electrical equipment, medical equipment, consumer goods, refinery and mining.

"Our state is doing good in these sectors. The government offers full support to those looking to invest in the state.

"Investors can interact themselves with industry players and experience how they are doing in the state," she said, inviting them to the Invest Rajasthan event scheduled for January 24 and 25, 2022, in Jaipur.

About 125 companies have signed MoUs on Wednesday, and already own land for their proposed projects, while 20 have submitted LoIs for their projects and are looking for land options, the official told PTI while replying to a question as to by when the agreements signed are expected to translate into actual investments.

According to a document shared by a state government official, solar firm ReNew Power, cement companies J K Cement and J K Lakshmi Cement, omni-channel eyewear retailer Lenskart and Sports Goods Export Promotion Council, ALP Polymer, ASK Automobile and Jindal Aluminium Ltd are among those who have signed the MoU with the Rajasthan government with an intention to invest in the state.