PM Modi Launches Development Projects Valued at Over Rs 50,700 Crores in MP

Prime Minister Narendra Modi has initiated a transformative wave of development in Bina, Madhya Pradesh, by laying the foundation stone for an array of projects valued at over Rs 50,700 crores. These ambitious projects encompass a Petrochemical Complex at Bina Refinery, a Power and Renewable Energy Manufacturing Zone in Narmadapuram district, two IT parks in Indore, a Mega Industrial Park in Ratlam, and the establishment of six new industrial areas across the state.

The Petrochemical Complex at Bina Refinery, to be realized at an estimated cost of about Rs 49,000 crores, is a cornerstone of these initiatives. It is poised to produce approximately 1200 KTPA (Kilo-Tonnes Per Annum) of ethylene and propylene, critical components for various sectors including textiles, packaging, and pharmaceuticals. This endeavor is in line with the vision of 'Aatmanirbhar Bharat,' reducing the country's dependence on imports and fostering self-reliance in the petrochemical industry. The complex is expected to create a surge in economic growth, generate employment opportunities, and catalyze the development of downstream industries within the petroleum sector.

Speaking to a gathered audience, Prime Minister Modi underscored the significance of these projects in revitalizing the region's development. He noted that the central government's investment of 50 thousand crore rupees in these projects surpasses the budgets of many Indian states, emphasizing the government's commitment to the progress of Madhya Pradesh.

Furthermore, the Prime Minister emphasized the importance of the manufacturing sector in the state's growth. He mentioned the launch of ten new industrial projects, including those in Narmadapuram, Indore, and Ratlam, which are expected to enhance Madhya Pradesh's industrial capabilities, benefitting the state as a whole.

Reflecting on the state's transformation, Prime Minister Modi recalled the time when Madhya Pradesh faced severe challenges, including crime and corruption. However, he highlighted the significant improvements achieved under the present government's leadership, such as restoring law and order, improving infrastructure, and boosting public trust in governance. These efforts have attracted major industries to set up operations in the state, promising a bright future for Madhya Pradesh's industrial development.

Prime Minister Modi also stressed the importance of self-reliance and reducing import dependency in the context of Atmanirbhar Bharat. He pointed out that India's reliance on foreign nations for petrol, diesel, and petrochemical products is a concern. The Petrochemical Complex at Bina Refinery represents a substantial step toward achieving self-sufficiency in the petrochemical industry, supporting the production of various essential products, from pipes and furniture to medical equipment and agricultural tools.

The Prime Minister extended his confidence that the projects inaugurated today will not only stimulate industrial growth but also benefit small-scale farmers, entrepreneurs, and provide employment opportunities for the youth. These projects align with the government's commitment to the welfare of the country and its citizens.

Prime Minister Modi also touched on India's rapid transformation and its growing role in the global arena. He acknowledged the successful hosting of the G20 summit, which showcased India's diversity and capabilities, enhancing the country's image on the world stage.

He stressed the model of "Sabka Saath Sabka Vikas" (Development for All) and expressed confidence that these projects would accelerate the state's progress over the next five years, contributing significantly to India's aspiration to become one of the world's top three economies.