Gujarat attracts huge investment in two days

January 18th, 2011 by James

Gujarat attracts huge investment in two days

Gujarat has been able to attract investments to the tune of Rs 20.83 lakh crore during the two-day long Vibrant Gujarat Summit, according to Gujarat Chief Minister Narendra Modi.

Modi said while speaking at the final summit session that as many as 7,936 MoUs were signed by the state government with several industrial houses to invest in the state.

From in.finance.yahoo.com:

On the first day of the summit, the state government had said it got investment commitments totalling nearly Rs 15 lakh crore with 2,766 MoUs signed with business houses and companies.

Leading among those which announced mega investments in the state were Anil Ambani-led Reliance Group and Ahmedabad-based Adani Group.

While Adani Group said it would invest Rs 80,000 crore in port, power generation and infrastructure, Anil Ambani-led Reliance Group said it would pump in Rs 50,000 crore in the state in the state in the next 5-7 years on various projects in power and cement.

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

Engineering and construction giant Larsen & Toubro also committed an investment of Rs 15,000 crore in Gujarat on infrastructure projects, while infrastructure major Hindustan Construction Company (HCC) also said it will invest Rs 12,000 crore to develop a renewable energy park in the state.

Major sectors that attracted investments are power, special investment regions, mineral-based industries, banks and financial institutions and oil and gas.

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