It is the best of times. It is the age of wisdom. It is an epoch of belief. It is a season of light, and it is an autumn of hope. These Dickensian expressions are precisely what corporations and investors are sensing of a resurgent Assam and its socio-political and economic climate as they make a beeline to invest in the State. Coming closely on the heels of PepsiCo laying the foundation of its plant in Nalbari in lower Assam with a projected investment of ₹766 cr, six private enterprises signed separate MoUs with the State Government while a hospitality company signed a land leasing agreement on September 23 thereby making way for an investment of over ₹3,214 cr in Assam. Besides, these investments will have the potential to generate 5,100 direct employment and thousands of indirect employment opportunities for a bulging youth force in Assam.
No wonder, Assam Chief Minister Dr. Himanta Biswa Sarma personally attended the ceremonial signing of these MoUs between the Department of Industries of the Government of Assam and the investors. (Please see Box)
A land lease agreement was also signed between the Assam Tourism Development Corporation (ATDC) and Jenipro Hotels Pvt Ltd for setting up of a 5-star category hotel with an investment of ₹100 cr at Hatikhuli Bagisa Gaon near Kaziranga National Park.
Speaking at the event held at the Janata Bhawan Complex in Dispur, Dr Sarma said that the signing of agreements indicated that Assam was moving forward towards becoming one of the most industrialised States in the country.
Stating that agreements for investments amounting to several thousand crores inked earlier in the year with the private sector are at various stages of implementation, the Assam Chief Minister spoke of another round of industrial investment proposals, amounting to
₹10,000 cr, being studied by the empowered committee set up by the Government of Assam to expedite the investment ecosystem in the State.
The Chief Minister said that in the next 18 months, private sector investments in the State since 2019 would cross the ₹50,000-cr figure and hoped that by the time his Government completes its term in office, the aggregate private sector investments in Assam could breach the ₹1-lakh cr mark.
Drawing a comparison between the current socio-political landscape of the State vis-à-vis the one prevailing a decade back, Dr. Sarma said Assam is currently witnessing an unparalleled period of general peace and stability and the State can rightly be termed one of the safest destinations for investors.
The Chief Minister also spoke about the various initiatives the State Government has been taking to create an environment favourable for private sector investments. Dr Sarma said his Government was committed to facilitating speedy clearance of investment proposals and related requests put forward by probable and potential investors.
Dr Sarma appealed to potential investors to reach out to the Chief Minister’s Office in case of inordinate delays in processing of their investment and related proposals.
On September 6, Dr. Sarma performed a bhumi pujan in Nalbari to launch the process of setting up PepsiCo India’s plant.
The proposed plant at AIDC Industrial Park, Banekuchi, Bonbhag Solmari in Nalbari district will be built on an area of 44.20 acres of land with an estimated project cost of
₹778 cr. Once completed, the green field plant will generate employment opportunities for around 500 persons.
Speaking on the occasion, Chief Minister Dr. Sarma said that setting up of the 6th plant of PepsiCo India in Nalbari is an important event in the history of industrialization in the State. He said that the investment of PepsiCo is one of the largest investments in the State marking the beginning of a better and developed Assam.
This unit is expected to be operational by 2025. The plant is designed to generate employment for over 500 individuals with at least 75% being women.
