Two MoUs for capital investment worth over Rs 2000 crore for two projects were signed for production of cement and fabricated steel, in the meeting of State Investment Promotion Board chaired by Chief Minister Bhupesh Baghel at his residence office on Monday.

These projects would generate employment for 550 people. Shri Cement Limited Company and RR Ispat Company signed MoUs with Chhattisgarh Government, according to an official communiqué. Chief Minister congratulated the office-bearers of both the companies and expressed hope that production under both the projects would begin soon and better employment opportunities would be created. Chief Minister requested the officials of the companies to generate employment for local people.

The Rs 2000-crore project to be set up by Shri Cement Company as per the MoU will produce 8.3 metric ton clinker and 13.5 metric ton of cement. Captive power plant of 170-MW capacity will also be established under the project. This proposed project will be established in village Khapridih in Simga tehsil of Balodabazar-Bhatapara district.

This project will require 400 acres of land, which the company already has. Company officials informed that the production under project will commence within one and a half or two years. Second MoU was signed between Chhattisgarh Government and RR Ispat for capital investment of nearly Rs 19 crore 85 lakh. This will provide employment to 100 people. This project will be established in Achholi        village of Urla industrial area in Raipur district. The project requires 6.75 hectares of land and the company already has it. Under this project, products such as steel structure for railway bridges, electricity poles will be manufactured. Company officials informed that the production will begin under the project within a year.