In a boost to the Narendra Modi government, top corporate houses, including Anil Ambani-led Reliance and the Adani Group, today committed to investing over Rs 1,80,000 crore in Gujarat in various sectors.
As top business leaders descended at the Mahatma Mandir, in the state capital here for the two day biennial event, Ahmedabad-based Adani Group led the pack announcing an investment of over Rs 80,000 crore in port, power generation and infrastructure in Gujarat.
"While two new ports -- one each at Hazira and Dholera are being developed, we are also expanding the existing ports at Mundra and Dahej. With this we have a goal to create 200 million tonnes per annum of port handling capacity by the year 2015," Adani Group Chairman Gautam Adani said.
Anil Ambani-led Reliance Group also said it will invest Rs 50,000 crore in the state in the next 5-7 years on various projects in power and cement.
"We are committing to invest Rs 50,000 crore in the state of Gujarat in gas-based and coal-based power projects in the next 5-7 years," Ambani said, adding that the investments would include very large investments in the cement sector in areas like Kutch, Porbandar and Junagadh.
Similarly, diversified conglomerate Essar Group said it will invest Rs 30,000 crore in Gujarat for projects in various sectors, including power and refinery.
"Essar has committed to invest in Gujarat Rs 30,000 crore in power, refinery, ports and water infrastructure," Essar Group Chief Executive Prashant Ruia said.
Engineering and construction major Larsen & Toubro also committed an investment of Rs 15,000 crore in Gujarat on infrastructure projects.
Farm equipment-to-software group Mahindra & Mahindra also signed six MoUs with the state government to invest Rs 3000 crore to step up presence in the hospitality and real estate sectors in the state.
As a slew of announcements on investments continued, infrastructure major Hindustan Construction Company (HCC) also said it will invest Rs 12,000 Crore to set up a renewable energy project in Gujarat in the ext two to five years.
Auto major General Motors India said it will be putting in fresh investment of $100 million (about Rs 450 crore) to increase production capacity at its Halol plant in Gujarat as it gears up to launch more vehicles in India.
Industry stalwarts Ratan Tata and Mukesh Ambani, who also addressed the gathering did not announce any investment from their respective firms but reiterated commitment to partner the state government in the path of growth and development.
Heaping praises on Modi's leadership for not only driving industrial growth but also boosting rural development, Tata said his group will partner the state in providing transportation into the hinterlands.
"The leadership of Narendra Modi has proved that Gujarat is not only seeing industrial growth but is also witnessing rural development," Tata said.
Mukesh Ambani on the other hand said Reliance Industries will strengthen its partnership with the state government to develop Pandit Deendayal Petroleum University into a top world class institute.
"Reliance will remain involved in Gujarat and maintain the same," he added.