Tata, Maruti, Adani, Ambani, all promise massive investment at Vibrant Gujarat

Ahmedabad: On the first day of the 10th edition of Vibrant Gujarat Global Summit, a host of investment promises were made by billionaires Gautam Adani and Mukesh Ambani, as well as corporate behemoths like Maruti Suzuki, Tata Group, DP World, and others.

On Wednesday, Adani announced an investment of over Rs 2 lakh crore in Gujarat over the next five years, primarily in building green energy and renewable energy. 

Praising Prime Minister Narendra Modi for taking India from a "country seeking a voice on global platforms to a nation that now creates the global platforms," Adani announced investment of over Rs 55,000 crore by 2025. "We have already surpassed Rs 50,000 crore across the various sectors I had promised and have vastly exceeded our target of 25,000 direct and indirect jobs," he said. 

Announcing further investments, Adani said that his company is constructing "the world's largest green energy park in Khavda in Kutch district, generating 30 GW of renewable energy over 725 square kilometres, visible from space." 

Similarly, Maruti Suzuki Corp president Toshihiro Suzuki said that Maruti Suzuki India will be launching its first EV (electric vehicle) from its Gujarat facility soon for domestic as well as global sales. He also announced an investment of over Rs 35,000 crore in the state to construct a second factory to increase its total production capacity. The company is looking to ramp up its annual production capacity to over 40 lakh units by 2031. 

Reliance Industries chairman Mukesh Ambani announced setting up the country's first world-class carbon fibre facility at Hazira, in Surat, Gujarat. Ambani added that Reliance will set up a green energy Giga Complex on 5,000 acres in Jamnagar in 2024. He also said that Reliance and Reliance Foundation will "join forces with several other partners in Gujarat to improve education, sports and skills infrastructure that will nurture the champions of tomorrow in various Olympics sports."

Tata Group Chairman N Chandrasekaran announced during the summit that the company is planning to build a semiconductor fabrication plant in Dholera. He also said that the Tatas will construct a 20 gigawatt lithium ion storage battery factory in Sanand over the next two months.

Meanwhile, ArcelorMittal chairman Lakshmi Mittal informed that his firm will build the world's single largest steel manufacturing factory at Hazira, Surat by 2029 which will have a of 24 million tonnes per annum.

Meanwhile, DP World signed multiple MoUs worth Rs25,000 crore of investment largely in developing new ports, terminals and economic zones. The MoUs were signed between DP World Group chairman and CEO, Sultan Ahmed bin Sulayem and MK Das, additional chief secretary, government of Gujarat in presence of UAE president Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Narendra Modi. 

The state government officials refused to provide an accumulative amount of investment promised but said that it will be revealed in the next couple of days.