As Gujarat takes steady steps towards urbanization, 655 memorandums of understanding (MoU) worth Rs 2,26,274 crore were signed during the fifth edition of Vibrant Gujarat Summit.
Eleven MoUs worth Rs 25,397 crore were signed in the presence of the chief minister Narendra Modi. Major projects include Essel Infraproject Ltd signing MoU worth Rs 5,200 crore for solid waste management, sewage treatment in Ahmedabad, Vadodara and Surat together with landfill gas capture and electricity generation project in Ahmedabad and a desalination project in Surat.
L&T infrastructure Development signed MoUs worth Rs 5000 crore for Ahmedabad monorail project, Sintex Industries for affordable housing worth Rs 2,500 crore, Sevvy Unispace signed an MoU worth Rs 3,065 crore for knowledge park. Arvind Ltd, Paraswanath Corporation and Immense Properties signed MoUs for residential township projects worth Rs 2,500 crore, Rs 2,282 crore and Rs 1500 crore respectively. Tata Housing has signed and MoU for a real estate project worth Rs 1000 crore.
Around 37.16 per cent investment worth Rs 84,083 crore would be under Ahmedabad Municipal Authority, and around 14.53 per cent of net investments committed (Rs 32878 crore) would be executed by Ahmedabad Urban Development Authority (AUDA).
Residential projects have bagged the biggest chunk of investments, 326 residential projects including townships worth Rs 70313 crore have been committed during the Summit. Investment would also flow into the rural sector; 15 residential township projects attracting an investment of around Rs 17,267 crore have been promised in rural areas. Urban infrastructure projects worth Rs 37122 crore have also been signed.