Centre to invest Rs 50,000 cr in NE region By A Staff Reporter GUWAHATI, Jan 11 The Central Government will invest Rs 50,000 crore to improve road, air and highway connectivity in the NE region in five years, said Union Minister of State for Commerce Jairam Ramesh. He was addressing the North East India Investment Summit here. Allaying fears of the potential investors, he said that large part of the country was unsafe compared to most areas of the NE region. He also made it a point for the media that the development that was happening in the region should get attention it desired rather than the news on bomb blast and ethnic violence.
Dedicated Regional Private Airlines will be operational by the end of the current year to improve connectivity within the region. Of its 23 airports, only 11 operational now and by the next five years the rest will also become operational, he said. The Railways will also spend Rs 10,000 crore to expand rail network in the region, he said, adding, at present, the region has only three per cent of rail network the Railways have in the country. Geography and terrain can never be the excuse. China has shown proved this by constructing rail network between Sanghai and Lasha, he said. Commenting on foreign direct investment in the region, he said that the Government would have to take initiative for the investment in the region to develop infrastructure and other basic amenities to create a conducive atmosphere for private investment in the region. He, however, reminded that plantation and production of tea would continue to occupy the centre stage of the regions economy. The Central Government has also attached priority to capitalise on the potential of the region in the power sector. We have to double effective power generation capacity by 2011, he said. Broadband connection is also slated for a rapid and spectacular growth in the region. At present, 20,000 broadband connections are there in the region and the connection will go up to 1,50,000 by the next year, he apprised the gathering of the Summit. He also apprised the gathering of the Summit that the Union Government was hopeful of a broad and final understanding on post, river and highways between India and Myanmar during the visit of the Myanmarese delegation to India in April next. For quadrilateral growth of the region the Union Government is substantially maintaining good relationship with Bangladesh, Myanmar and South East Asia, he said. Addressing the function, Chief Minister Tarun Gogoi said that in the near future, India would be connected to the South East Asian countries through the proposed Asian Highway and the Trans Asian Railways running through Assam. Investors would be able to reach the huge market in the Eastern India, Nepal, Myanmar, Bangladesh and Bhutan by establishing their manufacturing bases in the State. Commenting on the natural resources of the State, Gogoi said that the proven crude oil reserve of the State was over 1.3 billion tonnes, while its proven reserve of natural gas was 158 billion cubic metre. But he regretted that untilisation of such huge deposits of natural resources was not very encouraging. Under the new exploration licensing policy of the Union Government, opportunity abounds in exploration and production of crude oil as well as natural gas . such opportunities may be explored as green field projects and also as secondary recovery projects, he said. The Assam Government welcomes strategic partners for doing business of exploration and production of hydrocarbon with the new company it has floated recently for the purpose, said Gogoi. He also mentioned organic farming, waterways etc as the potential sectors for the investors. (The Assam Tribune,12.01.2008)
