Vibrant Gujarat 2013 Jubilant, Essar, Adani commit investments totaling Rs 22,000 crore

AHMEDABAD: Shashi Ruia of Essar Group has committed investments worth Rs 15,000 crore in Gujarat. Speaking at the Vibrant Gujarat Summit 2013, he said Rs 10,000 crore will be invested in the ports sector while Rs 4,000 crore in bulk water supply. The rest of the investment will be in existing projects of the company in Gujarat, he said. Shashi Ruia said Gujarat has proven that good governance can exist with good politics.

Speaking on the occasion, Gautam Adani of Adani Group committed investment worth Rs 5,000 crore. The investments would be spread across its existing business, particularly in ports, and new ventures.

RC Bhargav, chairman Maruti Udyog Ltd, said: “Gujarat is our second home. We thought Gujarat was the best state to invest in but when we went to Gandhinagar, we saw reality was much better that what we had heard.” Maruti decided to invest in Gujarat after labour unrest at its Manesar plant in Haryana. The company is setting up full fledged plant at Bahucharaji, near Mehsana, in North Gujarat at cost of Rs 18,000 crore. The initial investment will be Rs 4,000 crore, the work on which has already started. The company plans to produce 20 lakh cars from the plant, once the plant is fully operational.

Earlier, Hari Bhartia of Jubilant Lifesciences committed investments worth Rs 1500 crore over the next two years. This will be over and above Rs 2000 crore so far, he said during his speech at the inaugural function of Vibrant Summit 2013.