Gujarat garners Rs 749k cr as investors’ meet kicks off

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Posted: Tuesday, Jan 13, 2009 at 2256 hrs IST
Updated: Tuesday, Jan 13, 2009 at 2256 hrs IST

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Ahmedabad: Gujarat managed to garner a humungous Rs 7,48,970 crore worth of committed investments across various sectors on the first day of the high-decibel Vibrant Gujarat Global Investors Summit which kicked off on Monday.

Commenting on the speedy clearance given to the Tata’s Nano Car project by chief minister Narendra Modi, Tata Group chairman Ratan Tata revealed that the Gujarat government, barring traditions, gave clearance to Nano project in just three days. “I have to listen to my own saying that if you are not in Gujarat you are stupid. Today I am saying that I am not stupid any longer,” Tata said during his inaugural address.

Aditya Birla Group Chairman Kumarmangalam Birla quipped “You cannot be in India if you are not in Gujarat” and announced an investment of Rs 20,000 crore in various sectors in the state over the next few years. Aditya Birla Group will invest in cement, fibre, copper and mobile services in the state, and MoUs for this will be signed during the VGGIS, Birla added. Tata group would invest Rs 21,000 crore over the next three years in Gujarat, Group chairman Ratan Tata said.

Mukesh Ambani of Reliance Industries said that his company’s relation with Gujarat was very old and they have already invested Rs 50,000 crore in the state. The company has also said it will set up a state wide city gas distribution network in conjunction with GSPC, a 50 mw solar power plant, expansion of its aromatic manufacturing facility a major C1/C2 cracker project at Jamnagar and a petcoke project at Jamnagar.

Essar chairman Shashi Ruia pledged Rs 24,000 crore in petroleum, chemical, port and jetty projects, during the global summit. This would include Rs 500 crore for training engineers, he said. Oil and Natural Gas Corporation (ONGC) HR director AK Balyan said his company will invest Rs 30,000 crore in Gujarat of which Rs 17,500 crore would be for development of the Dahej Special Economic Zone (SEZ). The State Bank of India (SBI) would help fund investments worth Rs 30,000 crore over the next three years in the state, chairman O P Bhatt said. Bhatt said they would ink three MoUs during the VGGIS and added that 45 new branches of SBI would be opened in different parts of Gujarat over the next three years. Larsen & Toubro (L&T) chairman and managing director A M Naik announced an investment of Rs 25,000 crore. Naik...

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