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India:Vibrant Gujarat 2005 takes off in style –
Rs 27,000 cr worth MOUs signed |
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2005-1-17
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 The three-day Vibrant Gujarat 2005 event took off in style as the Government of Gujarat announced signing of 52 MOUs (Memorandum of Understanding) worth Rs 27,000 crore, on the first day itself.
The Vice President of India, Bhairon Singh Shekhawat inaugurated the event with the Chief Guest of Honour being Leader of Opposition Mr L K Advani, in presence of Chief Minister of Gujarat Narendra Modi, VIP dignitaries, NRIs, NRGs, government officials and other invitees.
The MoUs were signed at three different sessions — energy and petrochemicals, emerging technologies and agro-based industries.
In the backdrop of the Vibrant Gujarat events, various companies, banks institutions and section of industry representatives put up impressive display of products and services at the venue, Science City on the outskirts of Ahmedabad.
Textile bigwigs of Ahmedabad like Arvind Mills, Ashima and Chiripal Textiles have set up their displays running parallel with the main events at Vibrant Gujarat 2005. www.fibre2fashion.com has also put up an impressive presentation at this event in the Science City.
The www.fibre2fashion.com stall with its attractive setup has been drawing sizable crowds, marking it out as a ‘must visit.’
The MoUs signed on the first day included 22 in the energy and petrochemicals sector, 16 in emerging technologies including IT and biotech and eight in agro-industries. In energy, Rs 2,973 crore are proposed to be invested in the exploration and development of gas in Gujarat by Cairns, Nico, Joshi Technology, ONGC, Hindustan Oil Corporation Co, John Energy and GSPC.
IOC signed an MoU with GSPC on taking equity in the latter''s Krishna-Godavari block which lies in the vicinity of Reliance Industries'' gigantic gas find. GSPC, in return, will get a stake in IOC''s block in Iran or one of the three gas-bearing blocks the company has in India.
ONGC proposes to spend Rs 1,766.6 crore in 2005-06 in oil exploration in Bharuch, Ahmedabad, Mehsana and Khambhat. GSPC proposes to drill and test fields with an investment of Rs 600 crore in Dholka, Khambhat and other places.
Further, Rs 3,620 crore are proposed to be invested in the expansion of two LNG terminals at Hazira and Dahej by Shell (Rs 2,620 crore) and Petronet LNG (Rs 1,000 crore). Kribhco and Gujarat Narmada Valley Fertiliser Corporation have committed investments worth Rs 3,770 crore for the expansion of their existing plant capacities.
IOC, BPCL, HPCL and Adani group have decided to invest Rs 2,180 crore in putting up retail outlets for the distribution of natural gas. HPCL proposes to spend Rs 582.75 crore in developing a CNG network in Ahmedabad and Mundra. And GSPL will develop a gas grid for Rs 1,200 crore in Gujarat.
As for emerging technologies, MoUs worth Rs 211 crore were signed. All are expected to set up units at Infocity in Gandhinagar and employ 13,000 people. |
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| Times Of India |
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