Patna, Aug. 26: Global investors are eyeing the urban sector of Bihar for investment. Representatives of Mumbai-based Motilal Oswal Securities Limited (MOSL) and other investors today met with the officials of the state urban development department for exploring investment opportunities in the state.

Department sources said discussions were held on urban sectors development projects in the state, including housing, public utility services such as water supply projects and sewerage networks among others. They also enquired about the scope and prospect of investment in the state. They were also briefed on existing and future policy frameworks in the state in the urban sector.

“We had come with a group of investors (our clients) to discuss the prospects of investment in the urban sector in Bihar. Moreover, the response from the urban development department was very good,” said Darshisth Shah of MOSL.

Shashi Shekhar Sharma, principal secretary of urban development department, Anupam Kumar Suman, managing director of Bihar State Housing Board and Bihar Urban Infrastructure Development Corporation and Chandra Nath Jha, special secretary of urban development department and other officials.

According to sources, Suman briefed the investors about the development in the housing sector, wherein BSHB is working on development of 1 lakh housing units in the next five years under public-private partnership (PPP) mode. Recently, the board has recently been approached by nearly 70 global development companies to associate with this project.

According to experts, the housing sector is presently in booming stages in the state as there is enormous requirement of residential housing units. Moreover, investment in the urban sector under PPP mode in the state is been looked after by many global investors as part of their business expansion initiatives.

Moreover, secondary investors like Motilal Oswal do not make direct investment in development projects but they make investment in securities of their clients — those firms which make direct investment in such projects.