Gujarat Global Investor Summit Target Touches Rs 45,563 Crore

Ahmedabad, September 29: | Updated: Sep 30 2003, 05:30am hrs
If Day One of Gujarat chief minister Narendra Modis over-hyped Vibrant Gujarat Global Investor Summit saw a profusion of discussed projects and IEMs (industrial membership memorandums to be registered with the Central government) breaching the Rs 33,000 crore mark, on Day Two the target touched new dizzying heights at a whopping Rs 45,563.50 crore.

Interestingly, however, most of the projects listed and circulated by the state governments information department include projects which have already been cleared by the state government months ago. These include Torrents proposed 1,050 MW power project at Uchhal in Surat which would cost Rs 3,800 crore, the Surat Electricity Companys proposed Rs 1,200 crore 156 MW project at Dahej SEZ, the Adani groups Rs 2,800 crore investment earmarked for its Mundra Port, Dahej Port and City gas distribution projects in Ahmedabad and Baroda, Nirma Chemical Works Rs 2,200 power project at Bhavnagar, Hindalcos Rs 1,500 crore copper smelter exoansion project and many others.

Said an amused participant, Clearly, Modis government is desperate to send the message across that it is being deluged by project proposals thanks to the summit whereas the reality is that the summit is being used to tom-tom projects which have been trickling in over a period of time.