Energy sector deals worth Rs.7.38 lakh crore at Gujarat summit
By IANSThursday, January 13, 2011
GANDHINAGAR - The energy sector bagged deals worth Rs.7.38 lakh crore with major corporates such as Reliance, Essar, Adani and Torrent signing agreements with the Gujarat government at the 5th Annual Vibrant Gujarat Summit.
Power sector won investment proposals worth Rs.6.25 lakh crore with 323 deals signed, while oil and gas sector got investment proposals worth Rs.1.13 lakh crore with 26 deals.
The agreements were signed in the presence of Chief Minister Narendra Modi.
Conventional power sector signed 53 deals amounting to Rs.3.38 lakh crore and envisaging power generation capacity of over 60,000 megawatt.
While Reliance Power said that it will be setting up power projects of 7,200 megawatt with Rs.30,000 crore investment Adani Power proposed for an investment of Rs.38,000 crore for 6,000 megawatt projects.
Other companies including OPG Power proposed for a 5,400 megawatt project with an investment of Rs.25,600 crore, while SPR Infrastructure said that it will be investing Rs.15,000 crore for projects of 2,640 megawatt.
The renewable energy sector also attracted agreements worth Rs.2.78 lakh crore.
For solar, wind power and tidal power generation 72 deals were signed with a capacity of 7,850 megawatt with an investment of Rs.64,000 crore.
Reliance Industries Limited signed an agreement for an investment of Rs.50,000 crore at its Jamnagar refinery and for developing Pandit Deendayal Petroleum University as a world-class university.
ONGC said that it will be investing Rs.17,700 crore at its Ahmedabad, Mehsana and Ankleshwar in the next three to four years.
Essar Oil will be investing Rs.15,999 crore at its Jamnagar refinery while Gujarat State Petronet Ltd. said that it will make an investment of Rs.12,000 crore for transporting gas from Gujarat to Jammu.
Gujarat State Petroleum Corporation said it will invest Rs.5,000 crore while Oilex proposed an investment worth Rs.2,700 crore.
