Assam govt signs investment agreements amounting to Rs 22,900 crore

Guwahati: As part of the implementation of Advantage Assam 2.0, Chief Minister Himanta Biswa Sarma participated in an investment agreement exchange ceremony with key investors, organised at Srimanta Sankardev Kalakshetra.

It may be noted that during the event, the Government of Assam signed agreements amounting to Rs. 22,900 crores.

Sarma referred to the day as an important milestone in Assam’s process of economic transformation. He stated that the signing of agreements for 20 major projects across various sectors, involving investments totalling Rs. 22,900 crores, represents a significant advancement towards the state’s developmental objectives.

He noted that the successful conclusion of the Advantage Assam 2.0 Summit, held in the presence of Prime Minister Narendra Modi and several industrialists from across the country, has contributed to establishing a favourable environment for industrial development in Assam.

He further stated that during the summit, Memorandums of Understanding were signed for proposed investments amounting to Rs. 5.18 lakh crore across the investment and infrastructure sectors.

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Referring to recent progress, he mentioned that the state government has already initiated the implementation of three major infrastructure-related projects. Regarding the first, he informed that Prime Minister Narendra Modi is scheduled to lay the foundation stone for the Narengi-Kurua bridge on the Guwahati Ring Road in September this year, at an estimated cost of Rs. 7,800 crores. He also noted that the Guwahati-Silchar Access-Controlled Expressway has received approval from the Union Cabinet, with an allocated budget of Rs. 23,000 crores.The Chief Minister stated that, following the Advantage Assam 2.0 initiative, the state government has secured investments amounting to Rs. 30,000 crores in the infrastructure sector, and expressed confidence that this figure is likely to increase further in the near future.

He further mentioned that multiple agreements were signed across both the public and private sectors during the Advantage Assam 2.0 summit. As a result, implementation has commenced for 20 major projects involving investments totalling Rs. 22,900 crores, based on the Memorandums of Understanding signed at the event. At Matia in Goalpara, Kohinoor Pulp and Paper Private Limited and RPN Speciality Private Limited are in the process of establishing two major paper mills, with an investment of Rs. 1,800 crore, and construction work has already begun. SKJ Clean Enviro Ventures Limited is planning to set up a plastic recycling plant in Changsari with an investment of Rs. 137 crore, and the project is expected to commence by December this year.

Referring to a Memorandum of Understanding signed with Matheson Hydrogen, he added that agreements have also been finalised with three ethanol production companies. He stated that significant progress has been made in projects undertaken by Kamakhya Biofuels, Gulshan Polyols, Aadhar Green, and Cis Biotech. Additionally, he said that the Brahmaputra Breweries project in Tihu has also made considerable headway.

Sarma stated that work has commenced on the Megashree, Meghatop, and Max Cement projects, with an investment of Rs. 2,800 crores. In the hospitality sector, construction is underway on various initiatives, including those by Shailaja LLP, Downtown Hospital (Courtyard by Marriott), and Jonali Constructions Private Limited (Marriott Resort & Spa).

He noted that a Memorandum of Understanding has been signed for the Tata Gateway project in Jagiroad. In light of the ongoing semiconductor project in the region, the Tata Gateway is expected to develop into a significant initiative.

He also said that the state government is taking active steps to establish a robust ecosystem for green energy production in Assam through partnerships with central public sector undertakings and private enterprises. He highlighted that work is in progress in collaboration with SJVN to develop solar power projects in Tezpur and Bilasipara. A Memorandum of Understanding has been signed with the company for the production of 200 megawatts of solar energy, with an investment of Rs. 1,000 crores. He further stated that two major agreements have been concluded in the green energy sector in Assam. One is with ATPC Limited to develop a 250 MW Battery Energy Storage System (BESS) project, and the other is with NLC India Limited (NLCIL) to establish a 100 MW solar power facility at Rongpangbong in West Karbi Anglong district. An additional MoU has been signed with Hinduja Renewables Energy Private Limited for the development of a Pumped Storage Project (PSP). Following the Advantage Assam summit, agreements amounting to Rs. 20,000 crore in the infrastructure sector and Rs. 22,000 crore in the industrial sector have been signed. Implementation of the Namrup Fertilizer Plant project is also progressing. He concluded by stating that investments worth Rs. 32,000 crore and infrastructure projects amounting to Rs. 30,000 crore under the Advantage Assam initiative are currently being realised.

The Chief Minister stated that a similar event is scheduled to take place in September–October this year, during which additional major investment agreements are expected to be finalised. He added that by the end of the year, the state government anticipates being able to inaugurate several industrial projects. He emphasised that, in addition to large-scale industries, sustainable job creation requires the development of small enterprises and sectors such as animal husbandry, horticulture, and dairy farming. He noted that Amul is expected to generate 20,000 employment opportunities through an investment of Rs. 75 crores. A Memorandum of Understanding has been signed with the National Dairy Development Board for milk production in Dhemaji, Dibrugarh, and Jorhat, with a target output of 3 lakh litres. The initiative is expected to become operational by September. He further mentioned that a fourth project agreement with Amul has been signed for additional milk production. At present, Assam produces approximately 1.3 lakh litres of milk daily, with a long-term objective of increasing this figure to 10 lakh litres per day over the next four to five years. He stated that current efforts are aligned with this goal and requested Amul to establish two additional projects within the state. He reiterated that the Assam government would provide full support and assistance for this purpose. Additionally, he noted that Tata has initiated two projects—one in Gujarat and another in Jagiroad—and observed that the project in Jagiroad is progressing at a faster pace than the one in Gujarat.

Sarma stated that the development of any state requires the incorporation of innovative ideas. In line with this objective, a new department titled ‘Startup and Innovation’ was established in the previous budget. Under the MASI Startup Programme, financial support totalling Rs. 2 crores has been provided to 24 emerging startups. These entrepreneurs have received grants under categories such as Startups for Scale-Up, Startups from Idea to Proof of Concept, patent reimbursement, and GST reimbursement. He noted that these startups are engaged in sectors including biotechnology, clean technology, and advanced innovation. He further stated that young individuals from the state are making progress in obtaining patents and applying their ideas in practical domains. Additionally, he mentioned that individuals from outside the state are also showing interest in working at incubation centres in Assam.

The Chief Minister stated that the state government has established a land bank to facilitate the allocation of land to interested investors. He added that necessary infrastructure is being developed to support this objective, and several major projects that signed Memorandums of Understanding during Advantage Assam are expected to be implemented by September–October. He noted that the progress made in the industrial sector following the Advantage Assam initiative is the result of well-developed infrastructure and industry-friendly policies adopted by the state. To promote industrial development, a supportive ecosystem has been put in place, which includes land allotment, the development of logistic parks, reliable power supply, and a digital single-window clearance system. He further stated that, following the signing of MoUs under Advantage Assam, the relevant departments within the state government have been undertaking focused efforts to ensure the implementation of these agreements.

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