Vibrant Gujrat Global Investors Summit (VGGIS) Witnessed signing of MoU’s worth almost Rs 14000 Crores

Memorandum of Understandings (MoUs) to the tune of Rs.14000 crores with different companies were signed by the Gujrat State Government during the 10th edition of the Vibrant Gujrat Global Investors Summit (VGGIS).

All these upcoming projects planned by different companies from the private sector have resulted in growing employment opportunities totalling an expected tune of new 28,585 jobs in the state of Gujrat spread over a period of the next five years as claimed by the State Government officials.

The state government officials have furthermore categorically stated that the 12 MoU’s signed by different companies inking at least 12 projects are to be completed with a period spanning over three to five years.

The government officials added that since Monday, a total of Rs.14,000 crore worth of MoU’s had been signed, which will set the limit bar of the next upcoming VGGIS to attract further investments for the state of Gujrat.

“Aarti Industries” has agreed via three MoU’s to proposed projects of coming up with new industries producing pesticides, speciality intermediate Chemicals & petrochemicals at Vapi, Jhagadia & Dahej districts of Gujrat, investing to the tune of Rs.4000 crores.

For the Chemicals & a petrochemicals industry in Vapi, a company named “Arti Drugs” is investing Rs.475 crores; both companies will commission their projects by the year 2025.

The employment generated by both companies, “Aarti Industries” & “Aarti Drugs”, will be to the tune of nearly 6500 job opportunities as claimed by officials from the Gujrat Chief Minister’s Office.

“Mitsu Private”, another company, will invest Rs. Five thousand crores in Pharma, Chemical, AP, Textile, Engineering & Plastic at Vapi area in the southern Gujrat, this company officials have promised 15000 job opportunities linked directly or indirectly to their proposed industrial projects in the state of Gujrat.

A Speciality Chemical producer named “Gujrat Flurochemicals” has agreed via an MoU worth Rs. Two thousand crores to produce Battery Chemicals for electric vehicles, Polyvinylidene Fluoride (PVDF) films for Solar applications & PVDF blinders for usage in electric vehicles will be opened at Dahej in Bharuch District of Gujrat with job opportunities for 1450 people by the year 2024.

An MoU worth Rs. 1140 was signed by “Asian Paints” for a new paint factory at Ankleshwar by the year 2023, resulting in both direct & indirect job opportunities for 3900 people.