RAIPUR: In a major decision, the Congress-ruled Chhattisgarh government on Thursday cancelled 158 Memoranda of Understanding (MoUs) for their non-action and failure to execute the plans.
The decision to nullify the MoUs was taken during the review meeting of the State Investment Promotion Board chaired by the CM Bhupesh Baghel at his official residence in Raipur.
The annulled MoUs included 103 signed during the Global Investors Meet held in 2012 and the remaining 55 inked between 2001 to 2018.
The production has already begun in 67 MoUs and the execution plan is underway in 61 other agreements signed with the state and the instructions issued to expedite the implementation of the MoUs that remain effective, according to the official statement issued after the meeting.
In the Global Investors Meet, as many as 275 MoUs worth Rs 9,3830 crore were signed. However, the capital investment of only Rs 2003 crore in six projects so far has been accomplished in Chhattisgarh, the officials informed.
The state government has also constituted two separate committees for addressing the issues faced by the industries in the state.