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444 Mous pledged worth Rs 7,48,970 crore on power, economic zones, tourism, water management among others on Day 1!
MoUs worth at least Rs 7 lakh crore are likely to be signed during the two-day investors’ meet With the state government dishing out new sops, the IT (Information Technology) and ITeS (Information Technology Enabled Service) sectors are likely to steal the show at the two-day Vibrant Gujarat Global Investors’ Meet from January 12.

The state government officials are expecting MoUs worth Rs 30,000 crore during the congregation, almost double the amount compared to the previous edition of the meet. The MoUs are likely to throw open three lakh jobs.

Around 500 delegates from the leading IT firms across the globe are expected to attend the meet. Several top IT and ITeS companies, including NASSCOM, Microsoft, IBM, QX, MPHASIS, L&T Infotech, eInfochips, Patni and DLF, have been invited to the meet. Most of these companies have confirmed participation.

According to sources, the changes in the state government’s IT policy would woo the best firms in the circuit to invest in Gujarat. Besides exempting the duty on power supply, the state government has decided to give IT firms 50 per cent waiver on stamp duty. The floor space index for IT and ITeS has been increased from 1.5 to 3.

The projected investment in the IT sector in Gujarat till 2011 is US $3.7 billion. The present IT and ITeS sectors’ turnover of US $120 million is likely to reach US $2.4 billion in the next fiscal (2010-11).

The IT products’ export growth rate has been projected at 107.3 per cent. Its estimated worth would be US $150 million.

Fifteen IT Special Economic Zones (SEZs) have already been announced in Gujarat. Of them, six each are in Gandhinagar and Ahmedabad. The rest are in Vadodara. All of them have liquor permit.

The total area earmarked for IT SEZs is 539 hectares. The six SEZs in Gandhinagar include Info City, DLF, Raheja, Gandhinagar Industrial Park, Tata and Gandhinagar Electronic SEZ. Those in Ahmedabad are Adani, City Gold Realtors, SGV Infrastructure, 3rd Eye Voice, Million Minds and Gaurinandan Property.

Jindal group to set up power plant near Simar port
Jindal group on Sunday announced setting up of a 2000 MW power plant near Simar port, along the coastline of Gujarat, with an proposed investment of Rs 10,000 crore. “We are going to set up a 2000 MW power plant along the Gujarat coast, probably at Simar with an investment of Rs 10,000 crore,” president of ASSOCHAM, Sajjan Jindal, said on the sidelines of Jain International Trade Organisation (JITO) conference. “Land has been identified, and the group has applied for various approvals for the power plant,” Jindal said. “Once the work begins, the power plant is expected to get commissioned within three years.”

Jindal, however, ruled out signing of an MoU at the Vibrant summit.

Essar may ink Rs 21,000-cr MoUs
Essar Oil is likely to ink four major MoUs with the state government with a proposed investment of Rs 21,000 crore at the Vibrant Gujarat Global Investors’ Summit 2009. An MoU of Rs 4,000 crore will be signed for expansion of refinery capacity from present 14 MTPA to 16 MTPA. Another MoU is regarding further expansion of the refinery from 16 MTPA to 32 MPTA. “We want to expand the refinery capacity considerably,” a senior official of Essar group said. The petrochemical complex, for which one MoU will be signed on Monday, will have an investment of Rs 4,000 crore. Apart from Essar, state run ONGC will also sign a number of MoUs for various projects, including Dahez SEZ and augmentation of gas processing facilities at Hazira.

Related posts:

1. IT companies line up at Raheja, DLF SEZs in Gujarat
2. Gujarat’s first IT SEZ clicks as Kendle logs on to Mindspace
3. Vibrant Gujarat Summit: 74 education MoUs signed
4. Kendle starts operation in Raheja’s Gandhinagar SEZ
5. Patni Computer opens new centre in Gandhinagar