24,385 MoUs inked on Day 2 of Vibrant Gujarat Global Summit

24,385 MoUs inked on Day 2 of Vibrant Gujarat Global Summit The second day of Vibrant Global Gujarat Summit 2017 sees a total of 24,385 MoUs being signed. The state government did not disclose the investment figures as of now, saying that they were still in the process of collating data. Around 50 MoUs were worth more than Rs 4,000 crore each; 133 MoUs were in the range of Rs 1,000-4,000

crore. The big names included the likes of Amazon India, Tyson Glass (Rs 1,700 crore for fibre-glass manufacturing unit), Tsinghshan Steel (Rs 5,500 crore), Adani Group, Ultratech Cement, Shree Cement, Gulf Mining, Airbus (helicopter manufacturing in Dholera). Around 89 MoUs worth Rs 16,000 crore being signed in the information technology sector, followed by 54 worth Rs 5,022 crore in the biotechnology sector. In the automobile sector, MRF Tyres signed an MoU worth Rs 4500 crore for setting up a greenfield manufacturing unit in the state with the Gujarat Industrial Development Corporation (GIDC).

MRF chairman and managing director K M Mammen later said that the upcoming manufacturing unit at Bharuch will generate employment for 2,500 people.

Under the MoUs signed in biotechnology, 14 companies commitment investments worth Rs 2,228 crore in pharma and healthcare while four firms made investment intentions worth Rs 2,076 crore in industrial biotechnology. 

Companies also signed MoUs for agriculture, infrastructure, environment, bioinformatics and biotechnology instrumentation, with the state government anticipating over 100,000 new employment through these MoUs. The state government also signed 340 MoUs with different companies in food processing sector for cold storage and warehouse projects in Gujarat.

Around 60 French companies evinced interest of investing in Gujarat in sectors like urban transporation, energy and regional air connectivity. On the other hand, the Australian delegation, led by High Commissioner Harindar Sidhu discussed investment opportunities in sectors like education, mining, clean energy, agriculture, water and sports. On the other hand, the action seminar saw young startups initiate deliberation with state government officials on making Gujarat 'Innovators' Paradise' through policy changes. Gujarat Narmada Valley Fertilisers & Chemicals Ltd (GNFC) signed an MoU with Saudi Alfalar for 40 Mw solar plant.