Madhya Pradesh government initiated 12 investment proposals worth Rs 32,000 crore during a two-day Investors Meet here.

The memorandums of understanding signed on the first day of the meet included Rs 1,300 crore cement plant, Rs 1,000 crore real estate unit, Rs 10 crore sponge iron unit and Rs 450 crore bio-energy unit besides several others.

Addressing the function state Chief Minister Shivraj Singh Chouhan said concerted efforts would be made to restore the golden era of Gwalior in the industrial sector.

He announced that Gwalior region would be placed in ‘C’ catogery to accelerate the pace of industrialisation and Udyog Mitra Yojana would be extended for another six years to facilitate the entrepreneurs of the region.

Eminent industrialists V N Dhoot, Raghupati Singhania, Senapati, Sajjan Jindal, Vinod Mittal, Pankan Munjal, H Ikava among others were present on the occasion.

Chouhan said that investors’ meets are not a political move and the government and is very serious about it.

He said that investment Facilitation Bill has already been passed in the state and the SEZ Act 2003 for Indore has been extended to the entire state.

Referring to the power situation he said that the state is better placed in comparison to many other states in respect of power supply.

Power generation capacity has also been increased by 2,950 MW over last four and half years in the state.