Top companies invest in Chhattisgarh

Raipur, Sep 3 (IANS) Mineral rich Chhattisgarh has received the highest foreign investment in India in the first seven months of this year.

The largely tribal state, which is aggressively wooing investors, got more than 14 percent of the Rs.2.68 trillion ($57.5 billion) investment coming to India between January to July, according to the Industrial Entrepreneurs Memorandum (IEM) report.

"Jharkhand came second with Rs.317.13 billion investment and Gujarat third with Rs.313.25 billion," stated the report, released by the industry ministry.

Chhattisgarh, which occupied the third slot last year, has received Rs.200 billion for pursuing three projects in the tribal interiors.

The Rs.377.15 billion investments have been mainly in the steel and power sectors.

Tata Steel - India's largest steel maker - has invested Rs.100 billion for setting up a 5 million tonne plant in Bastar. Another steel major, Essar Steel, has invested Rs.70 billion for a 3.2 million tonne plant in the Maoist-insurgency hit Dantewada district.

Public sector fertiliser company IFFCO is all set to invest Rs.45 billion in Surguja to install a 1,000 MW thermal power plant.

Chief Minister Raman Singh told IANS: "I am happy that Chhattisgarh has got the maximum investments. This ranking reflects our commitment to the development of the state."