Vibrant Gujarat Global Summit 2022: Rs 25,000 cr multiple MoUs signed across sectors

06:17 PM Nov 22, 2021 | Agencies

The Gujarat government on Monday signed multiple memorandums of understanding (MoUs) attracting proposed investments of around Rs 25,000 crore as part of the 2022 Vibrant Gujarat Global Summit, which will be inaugurated by Prime Minister Narendra Modi on January 10 next year.

In the first of a series of MoU signing events to be organised in the run-up to the 2022 VGGS, as many as 19 companies expressed their intention to invest Rs 24,185 crore in different parts of Gujarat that will generate 36,925 direct employment opportunities.


Those signed the MoUs included Indo Asia Copper Ltd, which has earmarked Rs 8,500 crore for a copper smelter and fertiliser complex at Ningala village in Rajula taluka of the state's Amreli district; Kiri Industries, which proposed an investment of Rs 2,900 crore for a chemicals and intermediates unit at Dahej; Meghmani Group's proposed investment outlay of Rs 2,600 crore; and Colourtex India's proposed investment of Rs 2,000 crore for dyes and dyes intermediates.


Gujarat Chief Minister Bhupendra Patel was present as the MoUs were exchanged between the representatives of the companies and Additional Chief Secretary (Industry and Mines) Rajiv Gupta.

Companies across manufacturing, chemicals and argo chemicals, technical textile, pharmaceuticals, and farm equipment expressed their intent to set up facilities at Dahej, Bharuch, Dholera, Vadodara and Halol. The MoUs also included the first two new projects in the Dholera Special Investment Region (SIR).

Some of the other companies that have expressed their intention are Merino Industries (Rs 900 crore) for particle board-cum-furniture and agroforestry; Borosil Renewables (Rs 650 crore) for solar tempered glass; KEI Industries (Rs 700 crore) for electrical cable; and Trafalgar Industries (Rs 650 crore) for industrial paper sacks.

CM Patel assured the companies that the state government will ensure that they do not face any kind of hurdles in realising their investment intention. At the same time, he said it is the responsibility of these companies to ensure that they launch the projects on time for which they signed MoUs with the government.

''If an issue drags on for long, bring the matter to our notice at the earliest,'' he said, adding that it is difficult to explain when the MoUs are not realised even when it is due to genuine reasons.

''The MoUs will be signed every Monday till the launch of the summit,'' ACS Gupta said.

(With inputs from PTI)

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