Gujarat govt signs 18 MoUs worth Rs 9,852 crore to boost investment

The Gujarat government on Monday signed 18 memoranda of understanding (MoU) worth Rs 9,852 crore under the state government's 'Aatmanirbhar Gujarat Schemes for Assistance to Industries', which was announced last year to boost new investment, an official release said.

Through these 18 agreements, various firms have pledged to invest Rs 9,852 crore in different parts of the state, which would generate 10,851 employment opportunities.

These MoUs were signed in the presence of Gujarat Chief Minister Bhupendra Patel on Monday.

Companies engaged in the business of chemicals and agrochemicals production, pharmaceuticals, equipment and electric rickshaws had signed MoUs with the state government, said the release.

Some of the major investments which were promised through MoUs today include a yarn and PET chips plant in Palsana taluka of Surat by Garden Silk Mills, said the release, adding that the facility will provide employment to 1,450 persons.

Other major investments include a plant by Asian Paints in Dahej in the Bharuch district and another by Mankind Life Sciences Private Limited in Vadodara. The majority of these plants would become operational by 2025.