The two-day Vibrant Gujarat Global Investors Summit 2011 concluded today with investment commitments of Rs 20.83 lakh crore ($450 billion) committed. The investment pledged by national and international corporate giants this year is far higher than the Rs 12.37 lakh crore in Summit 2009.
The government said 7,936 memorandums of understanding (MoUs) were signed during the mega event. “The investment pledged will provide employment to 52 lakh people,” said Narendra Modi, chief minister, at the valedictory session.
During the summit, Modi had one-to-one meetings with 650 delegates from 43 countries. As many as 1,400 foreign delegates from 101 nations participated this year. The urban development sector was the biggest gainer today, with investment commitment of Rs 2,26,274 crore. Some major projects include Essel Infraproject Ltd’s Rs 5,200-crore solid waste management and sewage treatment projects and L&T infrastructure Development’s Rs 5000-crore Ahmedabad monorail project.
Earlier in the day, the ports and ship building sector witnessed major investments to the tune of Rs 1 lakh crore, with as many as 97 MoUs. Adani HPPL Ltd pledged Rs 8,000 crore to develop a bulk-general cargo terminal at Hazira. The Essar Group signed two MoUs, involving a total investment of around Rs 8,100 crore under its group company, Essar Bulk Terminals Ltd ,for expansion of the deep water terminal at Hazira and extension of the company’s Salaya jetty.
The pharma and healthcare sectors saw investments of Rs 26,000 crore by national and international companies. Of this, Rs 15,600 crore will be in health and Rs 10,686 crore in pharma.
Day one of VGGIS, the fifth in the series, saw investment commitment of around Rs 15 lakh crore. Of the MoUs signed yesterday, 48 worth Rs 3.05 lakh crore were in power, 13 MoUs worth Rs 1.22 lakh crore for various Special Investment Regions and 41 MoUs worth Rs 1.34 lakh crore in the mineral sector.