Vibrant Gujarat 2011: $ 462 bn investment bonanza for State

Vibrant Gujarat, the Global Investors summit in Gujarat has metamorphosed into an international platform to facilitate investment alliances for participating investors from various countries and states. Despite having only 6% of the national population and 6% of its land mass, Gujarat contributes 22% of the country’s export. The state is the perfect example of investment hub with double digit growth rate even during recession having strong domination in many industries across the spectrum.
 
The previous four ‘Vibrant Gujarat’ events were meant to attract investment for Gujarat only. But with its 5th edition scheduled 10-11 Jan, 19 states from India also participated whereas Japan and Canada became the country partners.
 
During its previous version in 2009 over 3,300 MOUs signed with an investment of US$ 240 billion with prospective investors. But this time the story is entirely different and quite encouraging. With a grand opening on its opening day itself by attracting investment of Rs. 14,90,000-crore ($325 billion), altogether 7,936 MoUs have been inked at the fifth edition of the two day Vibrant Gujarat Summit 2011 envisaging a whopping investment of $ 462 billion for Gujarat.
 
Considered as the largest gathering of the who’s who of the India attended by delegations from over 90 countries and 19 Indian states, the event was organized as a chic corporate event rather than a political platform.
 
Anil Ambani to invest Rs. 500bn in Gujarat  
It has been reported that Anil Ambani led Reliance Group will invest Rs. 500bn in Gujarat in the next 5-7 years on for gas-based and coal-based power projects.  Large investment is also expected from the group in the cement sector in areas like Kutch, Porbandar and Junagadh.
 
Essar Group will invest Rs. 300bn in Gujarat
Essar Group to invest Rs. 300bn in Gujarat for development of various projects including power and refinery.  The group is already constructing a dry bulk port at Hazira and a coal jetty at Salaya in Gujarat.
 
Tata Group to support rural transport
Ratan Tata led Tata Group has signed an MoU with the state government to provide rural transportation. In addition to the ongoing rural initiatives such as skills development activities, sanitation and water projects where the group is already a partner; the group to partner the Gujarat government in improving rural transportation.
 
Mahindra Lifespaces to establish a Mahindra World City at Dholera SIR
Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group entered into two MoUs with the Government of Gujarat at the ‘Vibrant Gujarat’ Summit.
 
The first MoU is for the development of an Integrated Business City in the Mahindra World City format at Dholera Special Investment Region (SIR), located in the upcoming Delhi Mumbai Industrial Corridor (DMIC). The development will be spread across an area of around 3,000 acres, with an investment of Rs. 2,000 crores, which when fully operational can create employment for over 100,000 persons and attract investments in excess of Rs. 10,000 crores. The aim is to develop a self sustaining urban centre as a part of the Special Investment Region in Gujarat under the DMIC development.
 
The second MoU is for the development of an industrial park of around 500 acres and located close to an existing industrial / commercial centre near Ahmedabad. It will cater to the infrastructure needs of Indian and international companies in Gujarat. The park, when fully developed will create approximately 25,000 jobs and attract over Rs. 1,000 crores of investment.
 
Mahindra Holidays to launch 7 new properties in Gujarat
Gujarat is a growing tourist hub attracting almost 1.65 crore visitors and tourists annually. Mahindra Holidays & Resorts India Limited (MHRIL), the leisure hospitality service provider to set up 7 new Club Mahindra resorts in Gujarat. Mahindra Holidays will invest approximately Rs. 210 Crores in the state. The company will establish 600 units across these seven locations, which will generate over 1,200 jobs in the state. The resorts will be set up in Saputhara, Polo Forest, Shivrajpur, Madhavpur, Suvali Beach, Nalsarovar, and Jamboghoda.
 
HCC to invest Rs. 12K crore in renewable energy sector
Hindustan Construction Company Ltd. (HCC), engineering construction major to set up a renewable energy park at its proposed waterfront city at Dholera Special Investment Region, Ahmedabad district being developed on the lines of Lavasa. This is the first time that the company is in entering into renewable energy business with an estimated investment of Rs. 12,000 crore.
 
The renewable energy park will be set up on approximately 600 acres within the land parcel offered for the proposed waterfront city at Dholera. The park will offer a platform for global leaders looking forward to set up research, development, consultancy and manufacturing of components businesses in India in renewable energy segments such as Solar, Geo-thermal, Wind and Bio-mass The Project would act as an internal demand driver for the Work component of Waterfront City at Dholera and would create around 17,000 employment opportunities in the leading organizations operating in the renewable energy segment.
 
L&T MHI JV Inaugurates Power Equipment Manufacturing Facility
Concurrent with the Vibrant Gujarat 11, the joint venture of Larsen & Toubro and Mitsubishi Heavy Industries inaugurated the country’s first private sector facilities for the manufacture of supercritical boilers and turbine generators at Hazira, Surat. Supercritical technology for coal-fired power plants is globally recognized as one of the most eco-friendly solutions to power generation. The technology ensures higher fuel efficiency leading to higher plant efficiency. Carbon emissions are reduced by as much as 5%. The L&T-MHI facilities are among the largest of their kind in the world, with a present annual capacity of manufacturing 5,000 MW of equipment, to be expanded to 6,000 MW by 2012.
 
HNG Float Glass to invest Rs. 750 crore
HNG Float Glass Ltd., a part of HNG Group, plans to undertake an investment worth Rs. 750 crore to set up a new float line at its existing float glass manufacturing plant at Halol, Gujarat. The project targeted to be completed by 2013 -2014 is expected to generate employment for approximately 1,000 people. The capacity of this new production line will be 1,000 MT per day. This is the second line being set up at Halol in addition to an existing one producing 600 MT per day.
 
Synefra to strengthen presence in Gujarat
Infrastructure Solutions’ provider Synefra Engineering & Construction Ltd, a Tanti Group Company, to partner with the Gujarat Government to further develop state-of-art infrastructure in the state. Showcasing its achievements at Vibrant Gujarat, the company announced its plan for business expansion in Gujarat and their foray into large sustainable infrastructure programs. The company also shared the advent of two more unit holders at their SEZ near Vadodara – Banco Products India Ltd. (BPIL), supplier of high quality engine cooling components and engine sealing gaskets to the automotive industry and Persang O. M. Metals Pvt. Ltd. engaged in the business of ultra purification of metals which will now operate out of Synefra’s Special Economic Zone at Waghodia.
 
Karnataka Grabs Rs. 22K crore investment at Vibrant Gujarat
The Karnataka Government signed MoUs worth Rs. 22,000 crore for investment in the state at the Vibrant Gujarat Summit (VGS). The Government has signed 20 MoUs to bring business in various sectors that include cement, food processing, engineering, non-conventional energy, textile and gas-based power plant projects. The Government has decided to offer incentives in the form of VAT exemption, refunds, soft loans to entry tax exemption to those investing in Karnataka.

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