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In the presence of CM, the sixth phase of MoUs for industrial investments in the state is being signed as part of the VGGS 2024

A total of 7 MoUs were signed for the textile sector, chemicals sector, and an industrial park, representing a potential investment of Rs. 4,067 Crores. This investment is expected to create more than 25 thousand employment opportunities

So far, in five phases of MoUs, Rs. 8,373 crore worth of 19 MoUs have been signed, resulting in the generation of more than 24,300 job opportunities

Gandhinagar, 12 September 2023: The tenth edition of the Vibrant Gujarat Global Summit will be held in January 2024. Under the guidance of Prime Minister Shri Narendra Modi, the Summit has established Gujarat as the benchmark for the best destination for investment. Under the guidance of Chief Minister Shri Bhupendra Patel, the State Government has undertaken a series of plans to make this summit a success.

As a precursor to the Vibrant Summit with this objective in mind, MoUs for establishing industries in the state are already being initiated every week in collaboration with various entrepreneurs. This initiative is carried out under the guidance and inspiration of Chief Minister Shri Bhupendra Patel.

In the sixth phase of this initiative, with the presence of Chief Minister, Shri Bhupendra Patel, on Monday, September 11, a total of seven MoUs were signed, representing investments exceeding Rs. 4,000 crores in a single day. This significant development is expected to generate more than 25 thousand employment opportunities.

It is noteworthy that during the five phases of the MoU signing initiative conducted weekly in preparation for Vibrant Summit 2024, a total of 19 MoUs, representing investments worth Rs. 8,373 crores, have been successfully concluded. As these industries commence operations, they are expected to generate more than 24,300 potential employment opportunities in the near future.

Accordingly, for the textile, industrial park, and chemicals industries, a total of seven MoUs were signed, indicating a potential capital investment of over Rs. 4,000 crores and the creation of more than 25,000 employment opportunities.

According to this MoU, Shree Shyam Fashion India Pvt Ltd will invest Rs. 103.25 crore to establish a denim dyeing and processing unit in Gangad village, Bavla taluka, Ahmedabad district. This unit is scheduled to become operational in March 2024, generating approximately 150 job opportunities.

In Surat district, General Polytex Private Limited will invest Rs. 250 crores to operate a textile unit, which is estimated to create approximately 500 job opportunities. This unit will become operational by March 2024. Additionally, in Surat, another textile unit will be established by APL Corporation Private Limited, with an investment of Rs. 153.98 crores, providing employment for 225 individuals. This unit is expected to become operational by the end of the coming month.

In addition to this, Pye Properties Pvt Ltd signed an MoU worth Rs. 450 Crores for establishing an industrial park spanning 546 hectares in Pakhajan, Vagra taluka, Bharuch district. This park is expected to provide employment to 15 thousand people and is slated to become operational by March 2024.

Concerning the development of infrastructural facilities for an industrial park covering an area of 3.31 lakh square meters in Intalwa, Palsana taluka, Surat, MoUs worth Rs. 119.93 crores have been signed. Approximately 7 thousand employment opportunities will be created in this park, which will have 582 plots available, and it is expected to become operational by March 2024.

In addition to these five MoUs in the chemical sector, two more MoUs were signed for investments worth Rs. 3,000 crores.

Gharda Chemicals Limited has signed an MoU for an investment of Rs. 2,600 crores to establish production facilities for agrochemicals, hyper-performance polymers, and pigments in Vagra taluka, Bharuch district. This investment is expected to create two thousand employment opportunities.

According to the MoU, the production of agrochemicals by Gharda Chemicals will commence in 2024-25, while the production of agrochemicals, high-performance polymers, pigments, and agrochemical formulations will begin in 2025-26.

In the chemical sector, another company, Yasho Industries Limited, has signed an MoU for an investment of Rs. 400 crores to establish production facilities for rubber chemicals, lubricant additives, and specialty chemicals in the village of Pakhajan, Vagra taluka, Bharuch district. This unit will become operational in April 2024, creating employment opportunities for approximately 250 people.

The industrialists who signed the MoUs praised the state government, stating that under the leadership of Chief Minister Shri Bhupendra Patel, the administration has played an active role in simplifying the process of starting businesses, promoting ease of doing business, and facilitating various initiatives, making it pro-active.

On this occasion, Chief Minister Shri Bhupendra Patel emphasized that the state has established an environment conducive to expeditiously launching industrial ventures, and there is a strong commitment to further accelerate the pace of the state’s development through collaboration between the government and industries.

The MoU was signed by Additional Chief Secretary of Industries Department, Shri S.J. Haider on behalf of the State Government and the Industry managers on behalf of the industrialists.

Chief Principal Secretary to CM Shri K. Kailasanathan, Chief Secretary Shri Raj Kumar, Industries Commissioner Shri Sandip Sagale, Joint Commissioner Shri Kuldeep Arya, and other senior officers of iNDEXTb were present on the occasion of the MoU signing.

Source: Information Department, Gujarat