It is reported that India Inc recently committed an investment of INR 750,000 crore in Gujarat on the first day of the biennial Vibrant Gujarat Global Investors’ Summit 2009. The second day is expected to see a commitment of INR 500,000 crore more.
As per report, power sector also witnessed staggering investment of INR 2.03 million. A total of 29 MoUs were inked by various companies to set up power projects. Special Economic Zones saw signing 17 MoUs involving an investment of INR 77,248 crore, while 46,007 crore of investment was committed in information technology.
Mr Prasoon Mukherjee promoted Universal Success today pledged highest investment of INR 87,000 crore, which also includes setting up of 10,000 MW of power plant and 5,000 acre
SEZ in Gujarat.
Mr Ajit Gulabchand CMD of Hindustan Construction Co committed INR 40,000 crore for a waterfront city, on lines of its existing project at Lavasa near Pune.
While Mr Shashi Ruia chairman of Essar Group committed INR 24,000 crore in petroleum, chemicals, ports and an academy, Mr Naik CMD of L&T’s said that his company would sign nine MoUs worth INR 25,000 crore. Mr AK Balyan director of ONGC committed INR 30,000 crore.
Mr Ratan TATA, who once famously said that “It’s stupid if you are not in Gujarat, I am proud that I listened to my own advice. Perhaps, I am not stupid any longer. He has committed INR 21,000 crore over the next 3 years.
Mr Gautam Adani of Adani Group committed INR 27,000 crore in various projects including an SEZ. He committed INR 27,000 crore in SEZ, power plant, transmission network and education.
Mr OP Bhatt chairman of SBI said that the economic centre of gravity was moving toward the East, mainly India and China, while committing INR 30,000 crore over the next 3 years.
Mr Kumar Mangalam Birla committed INR 20,000 crore while state’s own Sandesara group said that it would invest INR 21,000 crore in SEZs and power.
Mr RN Dhoot MD of Videocon group committed INR 12,000 crore.
Mr Kalyani CMD of BN Bharat Forge would enter Gujarat for the first time with an investment of INR 7,000 crore.
Low cost airlines pioneer Mr Gopinath, too, would bring in INR 3,000 crore by making Ahmedabad an air cargo logistics hub.
Mr Sabeer Bhatia founder of Hotmail promoted Nano Work Development committed INR 30,000 crore for a Nanocity in Kutch.
Mr Gautam Adani committed INR 27,000 crore of investment for expansion of Mundra Port & SEZ and setting up of 2,000 MW power plant.
Vadodara based Sandesara group inked a MoU to invest around INR 21,000 crore for SEZ and infrastructure projects.
EMPI committed an investment of INR 11,340 crore for Gujarat Vittal Innovation City at Valsad.
RIL, which has completed projects worth INR 50,000 crore so far in the state, did not make any fresh commitment.
While Japan was the partner country for the summit, Kenyan Prime Minister, who had arrived with a large delegation, was also present on the dais. Foreign representatives from Japan, Singapore, Italy, the UK, Canada, Uganda, Sri Lanka, and Korea were among 500 delegates who participated in the event.
Source : Steelguru