SHILLONG: Meghalaya Chief Minister Conrad Sangma has announced that the state is poised to attract a significant private investment of Rs 8000 crore.
Addressing a workshop on leadership in Tura on Friday, Chief Minister Sangma attributed this surge in investments to the implementation of the government’s new industrial policy.
He highlighted that the policy has fostered an ecosystem conducive to ease of doing business, drawing companies to redirect their focus from established urban hubs such as Bangalore and Hyderabad to Meghalaya.
“Our state boasts ample human resources and capacity, prompting companies to recognise our potential. Our people exhibit strong language skills and work ethics, presenting an advantageous proposition,” Sangma remarked.
Highlighting recent successes, Sangma revealed that close to Rs 4000 crore worth of investment has materialised over the past year.
This includes major projects such as a Rs 2500 crore thermal power plant slated to generate 450 megawatts of electricity, as well as ventures in ethanol production, beverages, and a chain of five-star hotels.
The Chief Minister also disclosed plans for new five-star hotels in Shillong, Sohra (Cherrapunjee), and Umiam, alongside a three-star hotel in Tura, all financed through private investment.
“Investments in infrastructure such as hotels, air connectivity, and high-speed internet will catalyse the establishment of more IT companies in the state,” Sangma elaborated.
He highlighted the success of the Shillong IT Park, which has already employed over 3000 individuals directly and indirectly, with additional interest from US and European companies for setting up BPOs.
Looking ahead, Sangma affirmed the government’s commitment to fostering economic growth through substantial investments in infrastructure projects.
“Over the past five years, our government has meticulously planned investment strategies, prioritising sectors such as education, health, power, and rural development,” he concluded.
