Even as Gujarat Chief Minister Bhupendra Patel was hardselling his state as an ideal investment destination in United Arab Emirates for two days, a Congress-led Rajasthan Government team took just one day in Ahmedabad to walk away with commitments of a whopping Rs 1,05,000 crore from Gujarati industrialists. Patel was in UAE on his first foreign visit after becoming the chief minister to pitch for UAE’s participation in the biennial Vibrant Gujarat Global Investors Summit slated for January. The meet was organised on Wednesday to promote their upcoming “Invest Rajasthan 2022.” Interestingly, Ahmedabad was the host city and MoUs worth Rs 1.05 lakh crore were signed with industrialists. The event was held with the help of CII in Ahmedabad.
The biz summit is scheduled for January 24-25, 2022, at Jaipur. Investors from across the globe including Spain, Japan and other countries have been invited, informed officials from the Rajasthan government.
“We got off to a flying start. Investments worth Rs 1.05 lakh crore have been contracted. This includes 12 MoUs worth Rs 41,590 crore and the remaining are letters of intent (LoI), worth Rs 64,110 crore,” briefed Parsadi Lal Meena, Health and Excise minister, government of Rajasthan. He officiated the MoU signing for 40 projects and these pertain largely to renewable energy, city gas supply, cement manufacturing, logistics, tourism and hospitality.
“The MoUs signed have been with companies in touch with the government since the last six months. They have been allocated land. The LoIs are with those who have expressed interest in investing in Rajasthan,” stated Archana Singh, Commissioner of Industries and Bureau of Investment Promotion. She added that national players like Azure Power, which already has a presence in Gujarat, would be setting up a solar park worth Rs 24,000 crore in Fatehgarh, Jaisalmer. Home-based Torrent Gas is looking at parking Rs 5,000 crore in gas distribution projects.
Adani Group which is also setting up a solar park have already put in place 5000-6000 MW. “We have approved a Rs 48,000 crore customised package for the conglomerate and are considering the request for another Rs 40,000 crore worth of investments,” she added.
While addressing businessmen during the investors’ meet, Mr Meena added that cheap land (at 40 percent cheaper than before) will be made available to industries willing to invest in the state. Clearly targeting ceramic investors, he threw open the doors saying: “The raw materials come to Morbi from our state. We will facilitate setting up base near the source.” Pointing at the growing opportunities, he informed of a recent business delegation from Rajasthan which bagged Rs 40,000 crore worth of investment.
