New Delhi, Jul 10 (IANS): The Himachal Pradesh government on Wednesday signed memorandums of understanding of Rs 1,000 crore with three companies for investment in the state.

The pacts were signed during Himachal Pradesh Global Investors Meet here in which Chief Minister Jai Ram Thakur and Industries Minister Bikram Singh met 18 industrial houses' representatives.

The memorandums of understanding has been signed with Ski Himalayas Ropeway for investing Rs 500 crore in ski resorts, Satya Developers Company for investing Rs 300 crore in housing and biotechnology company Puremagics for investing Rs 50 crore on algae farming.

Field Fresh Food Private Ltd expressed interest in setting up food processing units in the state, a government statement said.

Thakur said the state government has set a target of attracting investment of Rs 85,000 crore and so far pacts have been signed for investment of Rs 22,000 crore.

The state is organising its first Global Investor's Summit in Dharamsala town on November 7-8.