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U’khand CM Dhami’s visit to UK: Signed MoUs for Foreign Investments worth Rs 12500 Cr

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Uttarakhand CM Dhami at Global Investors Summit in London from 26-28th September 2023Uttarakhand Chief Minister (CM) Pushkar Singh Dhami visited London and Birmingham, the United Kingdom (UK) from September 26-28, 2023 to invite Non-Resident Indians (NRIs) and industrialists for the upcoming Uttarakhand Global Investor Summit to be held in Dehradun, Uttarakhand in December 2023 to achieve the goal of a strong Uttarakhand.

  • During his visit, the Uttarakhand government signed Memoranda of Understanding (MoUs) with various companies for investment proposals worth more than Rs 12,500 crore.
  • He also participated in a roadshow organised for the Uttarakhand Global Investors’ Summit in Birmingham (UK) and held a meeting with various industrialists.

Key Highlights:

i.An action plan was conceptualised to accelerate tourism activities in Uttarakhand, in a meeting held at the High Commission of India in London.

  • An investment agreement worth Rs. 4,800 crores was signed with the group involved in various activities in the tourism sector.

ii.A meeting was held with the Lord Mayor of the London Municipal Corporation for technical assistance in raising funds from the bond market regarding financial arrangements to develop the infrastructure of Uttarakhand.

iii.A meeting was held with the officials of the German Embassy regarding Germany’s support to Uttarakhand in terms of technical, education, and skill development.

  • Uttarakhand’s skilled workforce may find opportunities to work in Germany.

Uttarakhand CM Dhami Took Part in Roadshow in Birmingham for Global Investors Summit

Uttarakhand CM participated in the Roadshow organized for the Global Investors Summit in Birmingham (UK) and held discussions with various prospective industrialists of Birmingham.

  • The theme of the Global Investor Summit to be organized in Uttarakhand has been kept as “Peace to Prosperity”.

Note: After London, the Uttarakhand government will also organise roadshows in Singapore and Taiwan.

Key Highlights:

i.More than 250 delegates from fields of education, IT, health, and manufacturing industry participated during the roadshow.

ii.An event will be organised on October 4 2023 in Delhi, to hold discussions with the investors.

iii.Britain (UK) is the 6th largest number of investors in India, with more than 600 industrial units working across the country.

Uttarakhand Govt Signs MoU With Ropeway Construction Firm Poma Group In London

The Uttarakhand government signed an MoU worth Rs. 2,000 crore with Poma Group, a French cable car company for investment in Uttarakhand Global Investor’s Summit in London (UK).

  • The MoU was signed by Vinay Shankar Pandey, Secretary (industries) Uttarakhand on behalf of the Uttarakhand government.

Association of Poma Group:

i.The Poma Group has worked in Uttarakhand, having been associated with the Auli ropeway in the Chamoli district of Uttarakhand.

ii.The Poma Group is also providing technical support in the Dehradun-Mussoorie ropeway & Yamunotri ropeway projects in Uttarakhand.

iii.Alongside technical support for the ropeway, the Poma Group plans to establish a Center of Excellence in many other religious and tourist places in Uttarakhand including Haridwar.

Benefits of ropeway:

  • Ropeway will provide convenience to the tourists in Uttarakhand.
  • Ropeways are environmentally friendly, reducing the carbon footprint associated with conventional transportation methods.
  • It plays a pivotal role in uplifting the livelihoods of the local population and fostering economic growth.

Other MoU’s:

The Government of Uttarakhand signed 2 separate MoUs in the presence of CM Pushkar Singh Dhami worth Rs 3800 crore:

  • Industrial group Kayan Jet in London (UK) for developing a skiing resort and cable car project in Uttarakhand and
  • Investment MoUs worth Rs 1,000 crore with Usha Breco was signed.

i.Kayan Jet: Kayan Jet signed an investment MoU of Rs 2100 crore for developing a skiing resort and another MoU of Rs 1700 crore for the cable car project in Uttarakhand.

  • The agreement by Kayan Jet aims to develop skiing resort projects in Auli, Dayara Bugyal, and Munsiyari of Uttarakhand.

ii.Usha Bracco Limited: Along with this, an agreement was signed with Usha Breco Limited, a leader in the field of ropeway agreed to develop a ropeway in Haridwar and other districts of Uttarakhand.

  • It specialises in the construction, operation, and maintenance of ropeways.

Uttarakhand CM Dhami Signs MoUs worth Rs 3,000 Crore with Aager Technology and Fira Barcelona

Investment MoUs worth Rs 3,000 crore were signed by the government of Uttarakhand during Pushkar Singh Dami’s 4-day visit to the UK. The MoUs were signed with 2 companies during the meeting organised for the Global Investors Summit in London, UK.

  • An MoU worth Rs 2,000 crore was signed with Aager Technology and another for investment worth Rs 1,000 crore with Fira Barcelona.

Key Points:

i.M/s Agar Technology has agreed to invest in lithium battery plants in Uttarakhand.

  • This partnership underscores Uttarakhand’s growing appeal in the renewable energy sector.

ii.Fira Barcelona is a prestigious European group specialising in the convention center and events management.

  • Their expertise in organising world-class business fairs enhances Uttarakhand’s global business prospects.

Additional MoUs:

Additionally, 2 MoUs were signed with Ease My Trip, which agreed to create a state-supported online travel agency (OTA) and promote Uttarakhand as a prominent global tourism destination.

  • This initiative is composed to generate a substantial number of employment opportunities.

Note: For the upcoming Uttarakhand Global Investors Summit, held in Delhi, the Uttarakhand government secured a Rs 1,000 crore MoU with Mahindra Holidays and Resort India Limited, marking the firm’s “largest investment in any Indian state”.

  • The MoU outlines plans for the establishment of 4 to 5 resorts within Uttarakhand.

Recent Related News:

Prime Minister (PM) Narendra Modi virtually flagged off Uttarakhand’s 1st semi-high-speed Vande Bharat Train connecting Dehradun with Delhi.

About Uttarakhand:
Chief Minister– Pushkar Singh Dhami
Governor– Gurmit Singh
Festivals– Magh Mela (January – February) and Nanda Raj Jat (August – September once in every twelve years)