As part of the run-up to 10th edition of Vibrant Gujarat Global Investors’ Summit (VGGIS), the Gujarat government signed Memorandum of Understandings (MoUs) worth Rs 14,000 crore with different companies on Monday.
As a result of these upcoming projects, 28,585 new employment opportunities will be created in Gujarat over the next five years, said the state government in its official statement. As many as 12 MoUs were inked for as many projects, which would be completed in a three – five years’ span, said the state government in an official statement. Last Monday, the state government inked 20 MoUs worth Rs 24,000 crore and set the tune for the upcoming VGGIS considered as flagship biennial event for attracting investments in Gujarat.
Aarti Industries inked as many as three MoUs in the chemicals and petrochemicals sector. The projects proposed by Aarti Industries include making of pesticides, specialty intermediate as well as chemicals & petrochemicals at Jhagadia, Dahej and Vapi, respectively.
The company will invest nearly Rs 4,000 crore for these projects. Another company Aarti Drugs will invest Rs 475 crore in a chemicals and petrochemicals facility in Vapi.
All these projects will be commissioned by the end of year 2025, claimed a senior official with the Gujarat Chief Minister’s Office adding that nearly 6,500 employment opportunities, too, will be created through these projects. Mitsu Private has proposed to invest Rs 5,000 crore in the areas of chemical, pharma, AP, textile, engineering and plastic at Vapi in South Gujarat. The company during the MoU signing ceremony claimed to provide 15,000 direct and indirect jobs through these projects by the year 2025.
Gujarat Flurochemicals, the speciality chemical maker, signed an MoU of Rs 2,000 crore to make battery chemicals for electric vehicles, PVDF (polyvinylidene fluoride) film for solar application and PVDF blinder for application in electric vehicles at Dahej in Bharuch district. The company will generate employment opportunities for 1450 people by the end of year 2024 as per the MoU detail.
Asian Paints inked MoU to invest Rs 1,140 for a new integrated paints factory in Ankleshwar. The project to be commenced in the year 2023 will provide employment to 3900 people.