ILFS plans Rs 50,000cr investment in Gujarat

The Gujarat government has bagged total investment commitments of Rs 2,05,000 crore ($46.62 billion) through 312 memorandums of understanding (MoUs) on the concluding day of Vibrant Gujarat Urban Summit 2007 today.

ILFS and DLF stole the show with investment commitments of Rs 50,000 crore and Rs 30,000 crore, respectively.

ILFS will fund various developers for townships and infrastructure projects. ILFS is also pondering a real estate foray through joint ventures with developers. DLF will develop three integrated townships in three cities.

A total 106 MoUs were signed for township projects with an investment of Rs 80,995, 143 MoUs worth Rs. 1,14,481 crore in the infrastructure sector, while 63 MoUs were signed in the commercial sector with a total investment of Rs 9,684 crore.

Only five MoUs worth Rs 6,985 crore were signed in urban sector during the Vibrant Gujarat Global investors' Summit 2007 in January.