Ambani, Adani commit huge investments at Vibrant Gujarat Summit
The Hindu
Top businessmen from India and overseas announced a flurry of investment deals at the 10th Vibrant Gujarat Global Summit, which commenced on Wednesday in the state capital Gandhinagar.
Top businessmen from India and overseas announced a flurry of investment deals at the 10th Vibrant Gujarat Global Summit, which commenced on Wednesday in the state capital Gandhinagar.
Indian and foreign investors and business leaders have expressed interest in setting up new projects in new-age industries such as green hydrogen, renewable energy, semiconductors and E-mobility, data centres and fintech and logistics and supply-chain networks.
Mukesh Ambani of Reliance Industries announced that a new renewable factory spread on 5,000-acre in Jamnagar will become operational in 2024. He added in the last 10 years, Reliance has invested more than ₹12 lakh crore in creating world-class assets in the country and a third of that investment has been made in Gujarat, making the Reliance a ‘Gujarati company.’
To make Gujarat a leader in green growth, Reliance has started building the Dhirubhai Ambani green energy giga complex over 5,000 acre in Jamnagar.
Mr. Ambani said the complex would generate a large number of green jobs and enable production of eco-friendly products and materials and would make Gujarat a leading exporter of such products. The company expects to commission the energy complex in the second half of 2024.
Gautam Adani announced investments of ₹2 lakh crore in Gujarat in the next five years, focused primarily on the development of a green energy park in Kutch, which, he said, would be be visible from space. He added that one lakh jobs will be created by the group in the state.
Tata Group Chairman N. Chandrasekaran announced plans to build a large semiconductor fabrication facility (fab) in Gujarat’s Dholera. It is expected to commence construction in 2024. The group is in the final stages of negotiations for the plant, marking a significant move into chip manufacturing sector.
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