CM sees Rs 900-cr foreign investment in State

CM sees Rs 900-cr foreign investment in State
EXPRESS NEWS SERVICE

MUMBAI, JULY 6: Maharashtra Chief Minister Vilasrao Deshmukh today said his two-week foreign trip to attract foreign investors to the State might fetch investments worth Rs 900 crore and hinted introducing power reforms in the state electricity board (MSEB) to meet the condition laid down by the World Bank.

Deshmukh, who returned from the tour last night, told mediapersons here that "around Rs 900 crore will be invested in the State as a result of the trip to USA and UK by a high-level delegation led by him".

The primary objective of the visit of the delegation, apart from making a case to the Bank and directly projecting the State to the potential investors and restore credibilities of its policies and governance, was making bridges with Maharashtrian entrepreneurs abroad, he said.

Government will be considering introducing reforms in power sector, a condition stipulated by the Bank, which has stopped all loans to the State pending its compliance, the CM said.