Industrialists flood Gujarat with big investments

Ahmedabad, Jan 12: In partnership with the Gujarat government Reliance's contribution to SEZ building will be an investment of Rs 25,000 crore and commissioning the SEZ will begin by the middle of next year in Jamnagar, said Reliance Industries Chairman Mukesh Ambani here today.

Speaking at the inaugural session of 'Vibrant Gujarat Global Investors Summit 2007' at the Science City here, Mr Ambani said Vibrant Gujarat has been a milestone for Reliance Industries when it signed Rs 9,300 crore worth of MoUs in 2003 in petrochem and chemical projects and all of which have gone on stream.

The MoUs signed in 2005 for new refineries would be completed in 2008, he said.

Giving another round of bonanza for Gujarat, Mr Ambani said the MoUs worth Rs 67,000 crore would be signed today relating to Jamnagar SEZ, coal, developing port city of Jamnagar and for the city gas pipeline. He also said that this will include bringing in gas from the Godavari basin.

''Gujarat will be our first state where we will bring our corporate governance to create logistics in rural Gujarat. This will provide through our investments in the coming year jobs for two lakh people,'' Mr Ambani said.

He added that Reliance will create a world class university in ''my father's name'' for enhancing competency and development skills of the future workforce.

Saying that RIL has an emotional bond with Gujarat which transcends emotional issues of the moment, he said his aim is to see that ''RIL is committed to make it a reality''.

In his short speech Mr Ratan Tata, member National Investment Advisory Commission said Tatas will help in setting up 4,000 MW power plant in Gujarat and the details of its implementation are being worked out. Tatas will focus on tourism and manufacturing, he added.

Mr Kumaramangalam Birla, Chairman of Aditya Birla group promised additional Rs 3,700 crore of investment. ''We have invested Rs 7,000 crore. With our investments so far we have provided employment to more than 8,000 people,'' he said.

Essar Group Chairman Shashi Ruia also announced his group investments in Hazira to the tune of Rs 10,500 crore. SEZs are not about land acquisition it is but creating opportunities and world class business initiatives, Mr Ruia said. ''I believe in people's power and in partnership. This is the appropriate forum to chalk out a growth path for the future.'' Mr Das Gupta, Chairman and Managing Director (CMD), Petronet India Ltd, said that a partnership with Adani is being worked out for which Petronet will invest Rs 7,000 crore by 2010.

Mr Sudhir Mehta, Chairman of Torrent Group said that Rs 9000 crore is being invested for a 2000 MW power project at Pipavav.

Mr Pankaj Patel, CMD of Zydus Cadilla promised total investments worth Rs 5,300 crore plus setting up of two SEZs in Ahmedabad and Bharuch. The investments covers setting up of a Life Science school in Ahmedabad.

On the other hand, Indravadan Modi of Cadila Pharmaceuticals said he will sign MoUs worth Rs 2,300 crore tomorrow. This will be multiplied in times to come, he added.

Mr Ravi Sanghvi of Sanghvi Industries said that Rs 5,100 crore is being invested to set up a mega power plant in Gujarat that will produce 1200 MW which will also include a railway line.

UNI