Gujarat Inks Multiple Initial Investment Agreements For Various Projects Ahead of Vibrant Gujarat Summit

The Gujarat government stated on Wednesday that it has signed multiple initial investment agreements worth USD 86 billion with 58 companies ahead of the 10th Vibrant Gujarat global summit. The summit is expected to attract a record number of foreign and domestic investors to the state. The global summit is scheduled to take place from January 10th to 12th.

Many organizations from various sectors signed the initial investment agreements. ArcelorMittal Nippon Steel India has signed a USD 13.68 billion contract for a green hydrogen project, an integrated steel plant, and the expansion of its existing steel manufacturing units in the state.

NTPC Renewable Energy Limited proposed an investment of USD 10.80 billion to create 15 GW of renewable energy parks and projects to meet the agricultural sector’s power needs.
 

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Additionally, NTPC is also planning to invest USD 8.40 billion for hydrogen blending with natural gas. The organization will also focus on fuel-cell electric vehicle mobility.

Torrent Power also signed an agreement to invest USD 5.69 billion to create solar power projects with 3450 MW and 7000 MW capacity.

Apart from this, the Gujarat chief minister also stated that the government is already in talks with semiconductor manufacturing companies in Japan, South Korea, and the US for further investment in the semiconductor sector. 

About Vibrant Gujarat Summit

The Government of Gujarat hosts the Vibrant Gujarat Global Summit every two years to draw in business and advance the state's economic growth. The first summit was held in 2003, and since then, it has become one of the most reputed global forums for business networking, knowledge sharing, and strategic partnerships.

The Vibrant Gujarat Global Summit is a major event on the Indian business calendar, and it is an important platform for the Government of Gujarat to showcase the state's potential for future growth.

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