"Vibrant Gujarat: MoUs Worth Rs 24.7k Crore Inked Ahead of Investment Summit"

In a significant prelude to the 10th edition of the Vibrant Gujarat Global Summit (VGGS), a total of 30 Memorandums of Understanding (MoUs) were formalized, expressing investment intentions totaling Rs 24,707 crore. The ceremony, held in Gandhinagar on Wednesday, witnessed the exchange of MoUs among various prominent companies in the state.

The operationalization of these MoUs is anticipated to create both direct and indirect employment opportunities, benefiting more than 38,000 individuals across diverse sectors in Gujarat. The ceremony, a key element of the upcoming Vibrant Gujarat Global Summit 2024 scheduled for January 10-12 next year, was attended by Gujarat Minister of Industries Balvantsinh Rajput and Minister of Water Resources Kunvarji Bavaliya. Representatives from the industry and various government departments were also present.

The signed MoUs primarily focus on projects related to minerals, innovative housing, commercial buildings within urban development, townships, chemicals and petrochemicals, and pharmaceuticals. Additionally, sectors such as jewellery manufacturing, green and solar energy, textile and apparel parks, engineering, automotive, animal healthcare, ethanol production, industrial parks, water supply, and skill development are covered by the agreements.

In a separate development, state-owned Housing & Urban Development Corporation Ltd (HUDCO) has entered into a memorandum of understanding with the Gujarat government for an investment of up to Rs 14,500 crore. This investment is earmarked for financing housing and urban infrastructure projects, aligning with the state government's vision for the overall development of Gujarat.

HUDCO, as a techno-financial institution, specializes in providing financial assistance for housing and urban development projects across the country. The collaboration with the Gujarat government signifies a significant step toward advancing housing and infrastructure initiatives, contributing to the holistic development of the state.

BS