Gujarat summit sees MOUs worth Rs.15 lakh crore signed
By IANSWednesday, January 12, 2011
GANDHINAGAR - The fifth Vibrant Gujarat global investors summit got off to a flying start here Wednesday with the state notching up promises of Rs.15 lakh crore ($333 billion) in investments through 2,766 Memoranda of Understanding (MOUs).
The amount is expected to go up substantially by the time the summit ends Thursday.
M. Sahu, principal secretary of industries, told mediapersons that about 20 percent of these investment promises came from the power sector, 8 percent from the Special Investment Region (SIR), 9 percent from the mines and minerals sector, including Gujarat Mineral Development Corporation (GMDC)-based investments, and 12 percent from the financial sector besides other assorted areas.
He said that 48 MOUs were signed in the power sector accounting for investment promises worth Rs.3,5204 crore. The 13 MOUs from the Special Investment Region (SIR) are worth Rs.122,742 crore.
The mineral-based sector saw 41 investment promises signed worth Rs.134,645 crore. There were 16 in the banks and financial sector for Rs.172,400 crore, Sahu said.
In the oil and gas sector 16 MOUs were signed entailing an investment of Rs.40,679 crore. A total of 153 projects were promised for the Petrochemicals and Petroleum Investment Region (PCPIR) worth Rs.73,546 crore.
The engineering and ceramic sector saw 308 investment promises signed worth Rs.75,546 crore. The lowest investment was 24 MOUs in the paper sector with promises worth Rs.2,649 crore, Sahu added.
The principal secretary pointed out that the government had initiated a paradigm shift in this year’s summit on creating a bigger knowledge-sharing platform.
“As against 13 MOUs signed in the 2009 summit, we have already signed 30 while three more would be initialled tomorrow (Thursday)”, he added.
Sahu pointed out that the knowledge-sharing meet held Monday in the run-up to the summit was attended by 25 foreign universities, 36 Gujarat educational institutions and four from other parts of the country.
Besides the 18 MOUs signed for technological cooperation between the body of IITians and government of Gujarat, 12 MOUs have also been signed with corporates for setting up centres of excellence.
