As many as 39 MoUs worth over Rs 41,000 crore were signed in the chemicals and petrochemicals sector alone in Gujarat on the second and final day of Vibrant Gujarat Global Investors? Summit on Tuesday.
The largest investment in the sector came in the form of Rs 10,000 crore joint venture between the three public sector enterprise Gujarat State Fertiliser Company (GSFC), Gujarat Narmada Fertiliser Company (GNFC) and Gujarat Alkali and Chemicals Ltd (GACL). Under the joint venture, a rubber, phenol, bisphenol, polycarbonate and PVC unit will be set up at Dahej.
Apart from this, Nidhi Mining has pledged investment of Rs 4,600 crore at Lakhpat in Kutch, which is estimated to give employment to 1,500 people. State energy minister Saurabh Patel said that the investments in chemicals and petro-chemicals sector will help in providing employment to 14,070 persons in different capacities. Principal secretary, energy & petrochemicals department, S Jagadeesan said that fertiliser major Iffco would be bringing investment to the tune of Rs 4,000 crore at Kalol for an ammonia and urea plant, which would provide employment to around 5,000 people. Other MoUs signed on Tuesday includes that of Euro Ceramics which pledged Rs 3,000 crore investments in Bhavnagar district.
GSFC the Gujarat government promoted fertiliser company is bringing in investment to the tune of Rs 7,200 crore in Vadodara and Dahej through a plant for manufacture of nylon-6, methyl amines and dimethyl formamide, fertilisers and caprolactum. The Bharuch based GNFC will be bringing in investment to the tune of Rs 3,574 crore for setting up a plant for ethyl acetate, wet sulphuric acid, acetate acid, feed stock conversion for ammonia plant and formic acid. Also, GACL inked a MoU for Rs 2,245 crore for a chemical plant in Kutch. Gujarat Floro Chemicals Ltd has signed a MoU for Rs 300 crore for setting up a spatiality chemicals plant at Dahej. Plast India will be setting up a knowledge centre at Umergaam in Valsad district with a capital outlay of Rs 100 crore will provide employment to 500 people.