Gujarat notes investments of over Rs 14 cr via MoUs

06 Dec 2021 CW Team

Along with MoUs of more than Rs 24,000 crore invested last week, the total tally now reached approximately Rs 40,000 crore, ahead of the biennial business event to be conducted in January next year.

The second leg of MoUs was declared by the state government on the back of roadshows for VGGS 2022 being headed by Chief Minister Bhupendra Patel in New Delhi last week, thereby attracting firms to take part in the business summit and invest in Gujarat.

With a proposed employment creation of more than 28,000 in the state, the MoUs were led by Mitsu Private Ltd for Rs 5,000 crore, the biggest in the second leg of investment commitments being made since last week. To be done for pharmaceuticals, chemicals, textiles, API, engineering and plastics, Mitsu's investment commitment involves employment for 15,000, with the project expected to begin in 2025.

The second largest investment commitment in the second tranche was done by Aarti Industries Limited for approximately Rs 4,000 crore, along with Rs 475 crore by Aarti Drugs Limited for chemicals, pesticide, specialty and intermediate chemicals that are set to come up at Jhagadia near Bharuch, Dahej and Vapi.

In the electric vehicle batteries and related applications section, Gujarat Fluorochemicals Limited invested Rs 2,000 crore at Dahej, which will render employment for 1,450 and launch by 2024.

In the dyes and colour section, Asian Paints Limited committed investments of Rs 1,140 crore for an integrated paints factory at Ankleshwar, employing 3,900.

The chemical space additionally observed a commitment worth Rs 720 crore by Navin Fluorine Advanced Sciences Limited, along with Rs 500 crore commitment by Pragna Specialty Private Limited in chemicals and intermediates.

While pharmaceuticals observed investment commitments of Rs 117 crore from Steve Healthcare Pvt Limited, the dyes and intermediates sector drew a commitment of Rs 100 crore from Sanjopin Industries Pvt Limited, with the projects set to develop at Bharuch and Dahej.

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As part of its continuing drive for the upcoming Vibrant Gujarat Global Summit (VGGS), on Monday, the state government observed investment commitments of more than Rs 14,000 crore being made via a dozen more Memorandums of Understandings (MoUs). Along with MoUs of more than Rs 24,000 crore invested last week, the total tally now reached approximately Rs 40,000 crore, ahead of the biennial business event to be conducted in January next year. The second leg of MoUs was declared by the state government on the back of roadshows for VGGS 2022 being headed by Chief Minister Bhupendra Patel in New Delhi last week, thereby attracting firms to take part in the business summit and invest in Gujarat. With a proposed employment creation of more than 28,000 in the state, the MoUs were led by Mitsu Private Ltd for Rs 5,000 crore, the biggest in the second leg of investment commitments being made since last week. To be done for pharmaceuticals, chemicals, textiles, API, engineering and plastics, Mitsu's investment commitment involves employment for 15,000, with the project expected to begin in 2025. The second largest investment commitment in the second tranche was done by Aarti Industries Limited for approximately Rs 4,000 crore, along with Rs 475 crore by Aarti Drugs Limited for chemicals, pesticide, specialty and intermediate chemicals that are set to come up at Jhagadia near Bharuch, Dahej and Vapi. In the electric vehicle batteries and related applications section, Gujarat Fluorochemicals Limited invested Rs 2,000 crore at Dahej, which will render employment for 1,450 and launch by 2024. In the dyes and colour section, Asian Paints Limited committed investments of Rs 1,140 crore for an integrated paints factory at Ankleshwar, employing 3,900. The chemical space additionally observed a commitment worth Rs 720 crore by Navin Fluorine Advanced Sciences Limited, along with Rs 500 crore commitment by Pragna Specialty Private Limited in chemicals and intermediates. While pharmaceuticals observed investment commitments of Rs 117 crore from Steve Healthcare Pvt Limited, the dyes and intermediates sector drew a commitment of Rs 100 crore from Sanjopin Industries Pvt Limited, with the projects set to develop at Bharuch and Dahej. Image Source