The first day of Vibrant Gujarat Summit saw major investment announcements by top industrial groups, including Reliance, Adani, Birla, Torrent and Russian major Rosneft groups Nayara Energy.

Reliance Industries chairman Mukesh Ambani announced doubling of the groups current investment of about ₹3 lakh crore in Gujarat over the next 10 years, saying the State would continue to remain the hub of the groups overall investments in the country.

With investments of over ₹3 lakh crore, the company has so far created and catalysed over one million livelihood opportunities in Gujarat, Mr. Ambani said. Reliance operates the worlds largest grassroots refinery in Jamnagar and has petrochemical units in Vadodara, Dahej and Hazira.

Another major announcement came from Gujarat-based billionaire Gautam Adani who committed investments to the tune of ₹55000 crore in the next five years.

According to Mr. Adani, his investments would create employment opportunities for 50,000 people in the State.

Solar hybrid park

The investments would include ₹30,000 for solar hybrid park at Khavda (Kutch), 1 GW Data Center Park in Mundra, one MTPA copper smelting and refining project, a cement and clinker manufacturing unit in Lakhpat, an integrated lithium ion battery manufacturing complex and expansion of the existing photovoltaic manufacturing capabilities.

Another Gujarat based group Torrent had committed ₹10,000 crore investments in areas such as renewable energy, power and city gas distribution network in the State. So far, Torrent Group’s investment in the State stands at ₹30,000 crore,”group chairman Sudhir Mehta said.

Aditya Birla Group chairman Kumar Mangalam Birla committed to invest ₹5,000 crore in the State over a period of next three years in the areas of chemicals, textiles, mining and minerals and green energy. The group is operating Ultratech cement, Indian Rayon’s and other businesses in the State.

The Tata Group announced expansion plans for its existing soda ash plant to reach one million tonnes per annum capacity in Gujarat but chairman N. Chandrasekaran did not divulge the quantum of investments.

However, he confirmed about groups plans for electric vehicle development and manufacturing facility in the State.

Lastly, Russian energy major Rosneft announced Indias largest FDI for a single project of Nayara Energy at Vadinar refinery which it acquired from Ruias-led Essar Group. D. Casimiro, global head of Downstream, Rosneft, announced investing $850 million (approximately ₹6,000 crore) for the phase-1 expansion of the Vadinar refinery.