Bihar Business Connect 2024: Telangana Firm Inks Rs 500-crore MoU

SCALAR Industries plans to invest Rs 500 crore on logistics for which around 50 acres of land is required in the state's Muzaffarpur Vaishali area.

Patna: Telangana's SCALAR Industries has inked a Rs 500-crore MoU with the Bihar government on Thursday during the Bihar Business Connect 2024 organised by the industries department at Gyan Bhawan in Patna. The event was inaugurated by Deputy Chief Minister Samrat Chaudhary.

Pramod Kumar Gupta, Managing Director of SCALAR Industries, said during a conversation with ETV Bharat that an MoU has been signed with the Bihar government. There is a plan to invest Rs 500 crore in the field of logistics for which around 50 acres of land is required in the Muzaffarpur Vaishali area. The government has been informed about this.

"We are going to set up a logistics park in Bihar. There is a plan to invest Rs 500 crore which will provide direct employment to 1,000 people in our company, and indirectly benefit 3,000," Gupta said.

The Bihar Business Connect 2024 is being organised on December 19 and 20 where CEOs of the top 80 industries of the country and abroad will participate. Industries department officials will hold one-to-one talks with these CEOs to give information on why to invest in Bihar its environment and industrial policy.

Deputy Chief Minister Vijay Kumar Sinha emphasised the state's potential for rapid growth and development during the inaugural ceremony of Bihar Business Connect in Patna. Sinha drew inspiration from former Prime Minister Atal Bihari Vajpayee, who once said, "I too am a Bihari, and the history of India is from Bihar. India's economic condition becomes strong due to the economic condition of Bihar, it has to be strengthened again".

Sinha highlighted the progress made during Vajpayee's tenure, saying, "During his period, many new industries came to Bihar. Due to his successful policies, many such industries came up in Bihar, which once again made Bihar emerge on the map of the country and invited people to come here."

He also emphasized Bihar's current growth trajectory, stating, "Today, through big expressways and green fields, you have 4-lane, 6-lane, 8-lane roads. Today, we have also increased the speed of traffic, and today we are providing favourable conditions for every industry in every sector."