Vibrant Gujarat: Corporate commit Rs 15 lakh cr investment

Posted By: Pti
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Gandhinagar, Jan 12 (PTI) The Gujarat government todaysaid it has got investment commitments totalling nearly Rs 15lakh crore on the first day of industrial ''mela'' VibrantGujarat reflecting the state''s pristine position as acorporate destination.

With the likes of Anil Ambani-led Reliance Group andAhmedabad-based Adani Group announcing mega investments, thestate government said it signed a total of 2,766 commercialMoUs with business houses and companies today.

"The Gujarat government has signed 2,766 commercial MoUswith business houses and companies today totalling aninvestment of about Rs 15 lakh crore," Gujarat PrincipalSecretary for Industries and Mines M Sahu told reporters here.

The major sectors which attracted investments are power,special investment regions, mineral-based industries, banksand financial institutions and oil and gas, he added.

Elaborating on sectoral investments that the state isgetting from the private players, he said the power sectorattracted Rs 3,05,204 crore.

The special investment regions will see an investment ofRs 1,22,742 crore, while the mineral-based industries segmenthad Rs 1,34,645 crore.

Banks and financial institutions will see investment ofup to Rs 1,72,400 crore coming in, while that of oil and gasis at Rs 40,679 crore.

Sahu said that on the final day of the two-day event,more MoUs are expected to be signed but investments would notbe too big as they were on the first day of the event.

Notable among the investments announced today are Rs80,000 crore by the Adani Group in port, power generationand infrastructure, followed by Anil Ambani-led RelianceGroup''s Rs 50,000 crore plans in the state in the next 5-7years on various projects in power and cement.

Similarly, conglomerate Essar Group said it will investRs 30,000 crore in Gujarat for projects in various sectors,including power and refinery.

Engineering and construction giant Larsen

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