Electricity production has been given top priority in industrial investment in Madhya Pradesh with an objective to develop the State as power state by the year 2013 so that power could be available sufficiently for farming, industries and domestic use. It would help to get rid of power cuts for ever. Electricity is the major component of industrial infrastructure but on the other hand MP is one of the major state in India with various mineral resources. The diamond mines of Panna have made it the diamond state of India. Now in the new face of industrialisation, 53 large industries are being set up in mineral sector in 16 districts of the State where Rs 42.658 crore would be invested. 42 industrial groups from the nation and abroad have signed 49 MoUs with the State government to invest in this sector. There was a time when there were gold mines in Kolar of Karnataka but with the mines getting too deep, the cost of extraction shot up making it infeasible. Now, the news of finding of gold in Singrauli area of Madhya Pradesh has hit the headlines. The Geo-Mysore Service Pvt Ltd is going to set up an industrial unit costing Rs 300 crore in Singruali for gold extraction. The world renowned Rio Tinto group is setting up diamond industry in Chhatarpur.