Bhopal: On Sunday, when Prime Minister Narendra Modi was launching the world’s biggest industrial fair – Hanover Messe 2015 – jointly with German Chancellor Angela Merkel, the chief Minister of the Central Indian State of Madhya Pradesh Shivraj Sinbgh Chouhan was laying the foundation stone of the ambitious 5 MT capacity underground copper mine project at Malajkhand in Balaghat district.
On this occasion, Mr. Chouhan said that 25 percent of total royalty on minerals mined from an area will be spent on development of that area. The INR 2000 crore project will give employment to 5000 people – 50% of these would be employed directly.
The Chief Minister said that due to this project, the names of two places in Balaghat district – Malajkhand and Baihar – will be written in golden letters.
The MoU for the Malajkhand project was signed at the Indore Global Investors Summit and today, the project is being launched with the cooperation of the Central government, the chief minister said.
Union Minister for Mining and Steel Narendra Singh Tomar, who presided over the function said that Malajkhand copper project is among the biggest, not only in country but also in Asia. Its expansion could have been effected much earlier, but it got delayed due to lack of coordination between the Central and the state government. He said that as a result of sustained efforts of Chief Minister over the last 10 year period, possibilities of investment in Madhya Pradesh have increased. Investors have evinced keen interest. He said a processing plant in this area will also be considered once the 5 MT annual capacity is achieved by the underground copper mine.
After the Indore Global Investors’ Summit in October 2014, Madhya Pradesh Chief Minister has adopted the approach of direct dialogue with investors. When in Bhopal – the state capital – he holds one-to-one meetings with investors on the first Monday of each month. After the Indore Summit, Mr. Chouhan has held one-to-one meetings with 29 investors. During the period, 6 investors from America also met the Chief Minister and discussed their investment proposals.
Salient features of Malajkhand Project
- Annual capacity of mine 5 MT.
- Production capacity 142.8 Mt.
- 5000 people to get employment,
- It is an INR 2000 crore project.
- Royalty received by state government to be spent on other important development works.
- Mineral-based small industries in the area will get a boost.