Japanese industries keen to invest in Bihar

Mitsubishi Corporation, Kawasaki Heavy Industries Ltd and Texmaco Ltd, have evinced keen interest in the ongoing industrial rejuvenation programmes of Bihar and plan to set up joint venture units with substantial investment.

The possibility of Japanese investment for the first time in Bihar came to the fore during yesterday's meeting between a 15-member Japanese business delegation and Bihar Deputy Chief Minister-cum-Finance Minister Sushil Kumar Modi here.

The Japanese delegation, led by Chief of Mitsubishi Corporation in India J Konomoto, during an hour-long meeting with Mr Modi, expressed keen interest in establishing several joint venture projects in the state in the wake of ''condusive business atmosphere and vastly improved law and order situation''.

Mr Modi, while apprising the delegation of the state government's various industry-friendly steps since it assumed office in 2005, claimed that the State Investment Promotion Board had so far approved 132 business proposals involving an investment of Rs 60,324 crore.

''Nearly 40 of these proposals, worth Rs 582 crore, have already started executing their projects and several more are in the pipeline,'' the Deputy Chief Minister told the Japanese delegation.

Referring to the areas of investment the state government was looking at, Mr Modi said they welcomed major investment not only in infrastructure but also in public health, sanitation and agro-processing industries.

''These would go a long way in providing further momentum to the ongoing industrial rejuvenation programmes in Bihar,'' he pointed out.

Incidentally, a number of leading Indian corporates, including the Reliance Industries, Airtel and Mahindra and Mahindra, had also decided to hike their investment portfolio in Bihar during the current fiscal, recognising the improved soci-political situation in the state.