The entire may be reeling under recession but it surely not the case with Gujarat, being touted as the "growth engine of India". Brushing aside the recessionary pressures, both global and domestic corporate giants today came forward to commit mammoth Rs. 7.48 lakh crore of investment in Gujarat on the first day of fourth Vibrant Gujarat Global Investors Summit-2009 at Ahmedabad.
Each and every top honcho of India inc., including Mukesh Ambani, Ratan Tata, Kumar Mangalam Birla, Sashi Ruia, Captain Gopinath, O P Bhatt, N Vittal, Anand Mahindra and Tulsi Tanti among others today had something to announce in the summit. The investments poured into almost all the sectors of the state, which include oil and gas, power, infrastructure, ports shipbuilding and related activities and Information Technology. Infrastructure and power sectors were witnessed the highest investment commit. A total of 122 memorandums of understanding (MoUs) entailing an investment of whopping Rs. 2.09 lakh crore were signed for infrastructure sector. Around 50 per cent of the big-ticket investments in infrastructure sector is coming into Dholera Special Investment Region (SIR).
Power sector also witnessed staggering investment of Rs. 2.03 lakh crore. A total of 29 MoUs were inked by various companies to set up power projects. Special Econimic Zones (SEZs) saw signing 17 MoUs involving an investment of Rs. 77,248 crore, while 46,007 crore of investment was committed in information techonlogy. Approximately, 8.28 lakh people are likely to get employment once these MoUs are materialised. Prasoon Mukherjee promoted Universal Success today pledged highest investment of Rs. 87,000 crore, which also includes setting up of 10,000 MW of power plant and 5,000 acre SEZ in Gujarat.
Hindustan Construction Company (HCC) also signed two MoUs with Gujarat government for investing Rs. 41,500 crores. The first MoU was signed for development of a Water Front City with a total investment of Rs.40,000 crores. The new city will be based on Lavasa, India's first and largest Hill City being built by HCC near Pune, Maharashtra.
Hotmail founder Sabeer Bhatia promoted Nano Work Development committed Rs 30,000 crore for a 'Nanocity' in Kutch. Gautam Adani today announced Rs. 27,000 crore of investment for expansion of Mundra Port & SEZ and setting up of 2,000 MW power plant. Vadodara-based Sandesara group inked an MoU to invest around Rs. 21,000 crore for SEZ and infrastructure projects. EMPI committed an investment of Rs. 11,340 crore for Gujarat Vittal Innovation City at Valsad.
Captain Gopinath of Deccan Airways announced investment to the tune of Rs 40,000 in air cargo logistics.