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Gujarat

Gujarat govt signs Rs. 24,185 crore MoUs ahead of VGGS

by TLAteam November 22, 2021November 22, 2021
written by TLAteam November 22, 2021November 22, 2021
Gujarat govt signs Rs. 24,185 crore MoUs ahead of VGGS

Ahead of the upcoming Vibrant Gujarat Global Summit (VGGS), which will take place in Gandhinagar in January, the state government on Monday signed 20 MoUs entailing investments of Rs. 24,185 crore.

Business News

The upcoming VGGS, which is being held biennially since 2003, will be the 10th edition of the business event. The Summit did not take place in 2021 due to the pandemic, but the government has announced it will take place in January 2022.

The 20 MoUs signed in Gandhinagar today have the potential to create 36,925 jobs, the state government said.

Indo Asia Copper signed MoU for setting up a copper smelter & fertiliser complex in Amreli with an investment of Rs. 8,500 crore, the largest among the 20 MoUs. Kiri Industries signed MoU to invest Rs. 2,900 crore for manufacturing various chemicals at Dahej.

“Gujarat has emerged as a preferred destination for investors from across India the world because of the foundation laid by PM Narendra Modi through earlier Vibrant Gujarat Global Summits. The government is committed to attracting maximum investments in the state, and will extend all the necessary support and assistance to investors,” chief minister Bhupendra Patel said on the occasion.

Surat-based Colourtex India signed MoU to invest Rs. 2,000 crore for dyes and dyes intermediate unit in Bharuch. IOC signed MoU to invest Rs. 1,595 crore for capacity augmentation at Kandla LPG import plant, modernisation and automation of LPG plants, etc.

JVRx Asset Management will invest Rs. 1,000 crore for a life sciences R&D and manufacturing cluster in Chharodi industrial estate in Ahmedabad. Meghmani Finechem signed MoU to invest Rs. 1,000 crore for setting up epichlorohydrin, CPVC, enhancing chlor alkali capacity, and chloro toluene plant in Dahej. Pragna Finechem also signed MoU to invest Rs. 1,000 crore for a chemical and petrochemical plant in Dahej.

Meghmani Organics, Merino Industries, Borosil Renewables, KEI Industries, Trafalgar Industries, Baahu Panels, and JCB Industries are some of the other companies that signed MoUs today.

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