They pledge to invest billions in Gujarat – Another feather in Modi’s crown

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Investors
from various parts of the country have pledged several crores (billions) of
investment across different industrial sectors in Gujarat during the Vibrant
Gujarat Global Investors’ Summit (VGGIS) 2009, which commenced ion Ahmedabad on
Monday.

 

 

1. Larsen &
   Toubro has pledged Rs 25,000 crore (Rs 250 billion) investment in the
   state, its chairman and managing director A M Naik said.Naik said that
   they would be signing nine memorandum of understanding (MoU) for projects
   in the manufacturing sector, road building and one for setting up a
   2400-MW power plant in Gujarat.

 

2. The State Bank of
   India would be investing Rs 30,000 crore (Rs 300 billion) over the next
   three years in Gujarat, its chairman O P Bhatt said at the event.He also
   said that they would be inking three MoU during the VGGIS and added the 45
   new branches of SBI would be opened in different parts of Gujarat over the
   next three years.

 

3. Oil and Natural
   Gas Corp director-HR A K Balyan pledged Rs 30,000 crore (Rs 300 billion)
   investment in Gujarat, of which Rs 17,500 crore (Rs 175 billion) would be
   for development of the Dahej Special Economic Zone.

 

 

4. Chairman and
   Managing Director of Suzlon Energy, Tulsi Tanti said that the company
   would be investing Rs 9,000 crore (Rs 90 billion) for setting up of a
   1,500-MW wind farm in Gujarat.

 

5. Bharat Forge would
   be investing Rs 7,000 crore (Rs 70 billion) for setting up a power plant
   and metallurgical equipment manufacturing unit in the state, said its
   chairman B N Kalyani.They will be signing two MoUs in this regard during
   the VGGIS, later in the day, Kalyani added.

 

6. Sterling Biotech
   Ltd’s chairman Nitin Sandesra said they would be investing Rs 21,000 crore
   (Rs 210 billion) in Gujarat, which would include Rs 6,000 crore (Rs 60
   billion) investment in SEZ.

 

7. Wellspun Group
   would be investing Rs 4,500 crore (Rs 45 billion) in Gujarat over the next
   few years, its chairman V K Goenka said during the VGGIS.They would be
   signing three MoUs in this regard, and added that the investment would
   include setting up of a 100-MW solar power plant and expansion of its
   existing units in the state, Goenka said.

 

8. Air Deccan’s
   chairman Captain Gopinath too announced that a logistic centre would be
   set up in Ahmedabad for Rs 3,000 crore (Rs 30 billion).The MoU in this
   regard would be signed during the VGGIS, he added.

 

9. Tata group would
   be investing Rs 21,000 crore (Rs 210 billion) over the next three years in
   the state of Gujarat, Ratan Tata Group Chairman said at the VGGIS.

 

10. Essar would be
    investing Rs 24,000 crore (Rs 240 billion) in petroleum, chemical, port
    and jetty project, its Chairman Shashi Ruia said during the global summit.

 

11. Kumar Mangalam
    Birla, Chairman of the Aditya Birla Group, announced that it would be
    investing Rs 20,000 crore (Rs 200 billion) in various sectors over the
    next few years.The investment would be in cement, fibre, copper and mobile
    services in the state, and MoUs for this would be signed during the VGGIS,
    Birla said.

 

12. Videocon would be
    investing Rs 12,000 crore (Rs 120 billion) in the state, company’s CMD R N
    Dhoot said during the Global Investor Summit which has attracted delegates
    from over 37 countries from across the world.

 

13. Gujarat-based
    Adani Group would be signing MoUs worth Rs 27,000 crore (Rs 270 billion)
    which would include setting up of a 2000 MW power plant in Mundra, Kutch,
    and some other projects, the companies chairman Gautam Adani said.

 

14. SRF Limited
    chairman, Arun Bharatram announced that they will be setting up a speciality
    chemical plants in Gujarat and for that they will be investing Rs 3,000
    crore (Rs 30 billion).

 

15. The Cellular
    Operators Association would be signing MoUs worth Rs 20,000 core during
    the VGGIS, which will be invested by the members of the association over a
    period of time, Asim Ghosh said on behalf of COA members.

 

16. Global IT wiz
    Sabeer Bhatia of Hotmail fame has announced setting up of a IT city for
    development of nanotechnology in Gujarat. The amount of investment will be
    announced later in the day.

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