AHMEDABAD
Ambani announces Rs 3L cr investment in a decade; Adani, Birla, and Torrent to put in Rs 10-55K cr
The first day of Vibrant Gujarat Summit 2019 saw top corporates announcing mega investment plans for Gujarat, with Reliance chief Mukesh Ambani announcing an investment of Rs3 lakh crore in the state over the next decade.
"Gujarat is Reliance's Janmabhoomi as well as Karmabhoomi. We have so far invested Rs3 lakh crores in Gujarat and created and catalysed over one million livelihood opportunities. Reliance will double this investment and employment numbers over the next ten years," Ambani announced in his address at the summit's inaugural session, which was attended by prime minister Narendra Modi as well as top political and corporate leaders.
Ambani did not elaborate on the investment plans but indicated that a large part of it would be in the telecom and digital technologies space.
Ambani's mammoth investment plans were announced a few minutes after Adani Group chairman Gautam Adani said that his group would invest Rs55,000 crores in the state in the next few years.
"Our investments in Gujarat in the past five years exceed Rs50,000 crores, and we are further accelerating our investments. Over the next five years, our investments will include the world's largest Solar Hybrid Park in Khavda. The anticipated investment is this park is Rs30,000 crores," he announced.
"We also plan to establish a 1 GW data centre park in Mundra, a one million tonne copper smelting and refining project, a cement and clinker manufacturing unit in Lakhpat, an integrated Lithium battery manufacturing complex, and expand our Photovoltaic manufacturing capabilities. Overall, we anticipate a total of Rs55,000 crores of investment in these projects," Adani, who had announced a foray into petrochemicals business through an Rs16,000 crore joint venture with German chemical giant BASF a day earlier.
Describing Gujarat as an investment magnet, Aditya Birla Group chairman Kumar Mangalam Birla, said that the group has invested Rs30,000 crore in the state until now, and would invest another Rs15,000 crore in three years.
"Amongst our major expansion is with Grasim viscose staple fibre plant at Vilayat, and Indian Rayon viscose filament yarn plant at Veraval. These will entail investments of Rs7,500 crore. Investment for expanding chemical business will be around Rs1,000 crore," he said.
Birla said that the group would invest Rs5,000 crore for capacity expansion of Hindalco, and Rs800 crore for mining & mineral sector, and solar power.
Ahmedabad-based Torrent Group said that it would invest Rs10,000 crore in energy and gas businesses.
"We have invested Rs30,000 crore in the state so far. Today, we are committing further investment of more than Rs10,000 crore across renewable energy, power distribution, and gas distribution businesses," Torrent's chairman emeritus Sudhir Mehta announced.
Russian energy giant Rosneft. Which acquired Essar Oil in a $12.9 billion deal in 2017, announced that it would invest $850 million in Gujarat.
"Nayara Energy will sign MoU with the Gujarat government for investing 850 million dollars (approximately Rs6,000 crore) for phase 1 expansion plan which will see the establishment of a new refinery and petrochemical units," Rosneft vice president Didier Casimiro, said.
Tata Group chairman N Chandrasekaran said that the group plans to invest in lithium-ion battery manufacturing in the state, and is also looking to enhance its soda ash production capacity.
"Our group companies like Tata Chemicals and Tata Motors have a very significant presence here. We look forward to continuing our investments," he said.
Vibrant Gujarat Summit has now become a truly global event. The summit has contributed to the confidence building of our enterprises. It has also helped in capacity building and adoption of global best practices by government agencies
Narendra Modi, Prime Minister
We see Gujarat as a big partner for the Tata group and it’s a place where professionalism is shown at its best. We want to make further investments, not only in manufacturing electric vehicles, but also in lithium ion battery projects
N Chandrasekaran, Chairman, Tata group
Gujarat is Reliance’s Janmabhoomi as well as Karmabhoomi. We have invested Rs 3L cr in Gujarat, and created and catalysed over one million livelihood opportunities. Reliance will double this investment and employment over the next ten years
Mukesh Ambani, CMD, Reliance
Malta is the smallest state in European Union, but like Gujarat, Malta also punches above its weight in economic contributions. Malta is witnessing a new wave of interest from Indian businesses
Joseph Muscat, PM, Republic of Malta
I say with great pride that I have been present at every one of the Vibrant Gujarat Summits, and am proud that Gujarat, my home state, has inspired the growth narrative for New India
Gautam Adani, Chairman, Adani Group
I am one of the biggest optimists about India. Back in 1995, we had bet on China as a manufacturing hub. Now it India’s turn. Till now, we were missing leadership in India. Things have changed here. India has a chance to lead and within India, Gujarat can lead
John Chambers, Chairman, USISPF
DNA TV Show: Hindus in Bangladesh unite against fundamentalism
‘Another example of…’: MEA on Canada labelling India ‘cyber adversary’
'Bhai kyu jhooti tassali....': Mrunal Thakur criticizes fan who photoshopped her in Diwali pic
Mukesh Ambani, Anil Ambani set to earn money from Singham Again's box office collection, here’s how
Adani Power cuts Bangladesh electricity supply by half due to $846 million unpaid bills
Here's what is happening inside Ratan Tata’s Bombay House since after death of business magnate
Virat Kohli dispels retirement rumours, suggests he may continue playing cricket till....
Meet man, highest UPSC exam scorer, who broke IAS Tina Dabi's record, he is...
Swati Maliwal pours bottle of polluted water outside Delhi CM Atishi’s residence; WATCH
IPL 2025: R Ashwin tops CSK's wishlist as franchise plans to utilize RTM for THIS New Zealand star
'Abki baar...': AI imagines Donald Trump, Kamala Harris as Indian politicians, netizens react, WATCH
Amid bomb threats, ammunition cartridges found in Dubai-Delhi Air India flight
This Indian king, was first man to make history by marrying foreign woman during his trip to...
Mukesh Ambani's Jio once again TOPPED in global telecom industry, sets record in...
Bhai Dooj 2024: Date, shubh muhurat, significance, rituals and more
New ‘Satoshi Nakamoto’ emerges: Meet man who declares himself to be Bitcoin founder but fails to...
Watch: Former CSK star gets hit for 6 sixes in an over against England during Hong Kong Sixes
'Makes no sense': Ex-India star slams Rohit Sharma, Gautam Gambhir for absurd Sarfaraz Khan decision
World's richest man Elon Musk faces lawsuit from Ex-Twitter CEO Parag Agrawal for...
Security forces kill 2 terrorists, including a foreign national in Jammu and Kashmir
WWE Crown Jewel 2024: Full match card, timing, live streaming details - All you need to know
'Absurd and baseless': India dismisses Canadian minister's allegations against Amit Shah
IND vs NZ: Virat Kohli scripts history in Mumbai Test, becomes first player in world to...
This 51-year-old woman leaves husband to marry 30-year-old Indian security guard
Mukesh Ambani's best plan for Jio users, 200GB data, 90 days of unlimited calls at just Rs...
'Thanks for...': Abhishek Bachchan's viral statement amid divorce rumours with Aishwarya Rai
Jammu and Kashmir: 2 terrorists killed in encounter with security forces in Anantnag
21-Day Mars, Moon simulation in Ladakh
Prashant Kishor's fee for advising in one election will leave you shocked, it is Rs...
Dua Padukone Singh: Here's how Deepika Padukone, Ranveer Singh named their baby girl
Another BIG move by Mukesh Ambani, set to provide some help for debt-ridden Ghana as Reliance Jio...
J-K: Gun battle breaks out between security forces and terrorists in Srinagar's Khanyar
Noel Tata takes BIG decision at TCS after Ratan Tata's death, plans to hire...
'Will chop them up...': Mithun Chakraborty hits out at TMC’s Humayun Kabir at Kolkata rally
Delhi Air Pollution: Delhi-NCR AQI turns ‘very poor’ as city wakes up to toxic smog post-Diwali
Gautam Adani's next BIG step: Adani Power stops Bangladesh’s power supply due to...
Indian troops start patrolling Demchok sector in eastern Ladakh following India-China disengagement
Amy Jackson announces first pregnancy with husband Ed Westwick, flaunts baby bump in adorable pics
In THIS Indian village, families live with cobras, the reason is...
Hardik Pandya flaunts his special 'World Champion' ring after being retained by MI, video goes viral
Happy Govardhan Puja 2024: Top 50 WhatsApp wishes, messages, quotes for loved ones
Despite massive Diwali opening, is Singham Again paying the price for banking on huge star cast?
Shah Rukh Khan's heartfelt gesture towards jewellery store staff wins internet, watch
DNA TV Show: Public calls out celebrities’ hypocrisy on Diwali pollution
Fashion designer Rohit Bal dies at 63: Last year, he was on ventilator for heart ailments
BCCI scraps India's intra squad warm-up game ahead of Border-Gavaskar Trophy, reason revealed
Legendary fashion designer Rohit Bal dies at 63 after prolonged illness
Another terrorist attack in J-K, militants shoot two non-locals in Budgam