Rs 1.5L cr investment will materialize in Gujarat within 2 to 3 years

Gujarat—one of India’s most preferred investment destination is riding the biggest wave of investor interest right now.  it has been announced that investments worth more than Rs 1.5 lakh crore will materialize within

just two to three years in the State. Chief Minister of Gujarat Vijay Rupani  personally reviews all investments

worth more than Rs 500 crore to expedite projects execution at all levels. As a result, all projects worth more

than Rs 500 crore will get operational within one or two years.

The State has a major thrust on infrastructure development to boost investment potential.The Gujarat Government is expecting a major investment boost by 2022 with work also underway for the ambitious bullet train project,  Mandal Bechraji DMIC, Dholera SIR , Expressway and DFC projects.

Interestingly, investment proposals worth about Rs 26,220 crore are from companies from European Union, Japan, China, Taiwan and South Korea. There are already more than 35 large projects now which have clearances from the State Government to draw more than Rs 1 lakh crore investment within a span of two years.

Chinese companies lead the investment wave in Gujarat with a whopping Rs 18,100 crore investment committed and projects execution had been started in the steel, auto, chemicals, petrochemicals, cement and textile sectors with many projects in advanced stages of execution.

Foreign investors want to set up projects in steel, petrochemicals and auto ancillary sectors while domestic investment interest currently is on textile, cement, chemicals and petrochemicals.

The Indian Oil Corporation (IOC) has already announced its mega expansion plan for its Koyali refinery in Vadodara and proposes to complete the project before April 2020.

Few other investments larger than Rs 5,000 crore are at the execution stage . Two other large investments in petroleum sector mainly -- one by Rosneft of Russia (Rs 84,500 crore) and CPC Corporation of Taiwan have been promised.

Russian oil giant Rosneft -- the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company and its partners have already completed their acquisition of Essar Oil last year and are doubling the refining capacity of the Vadinar refinery near Jamnagar to 40 million tonnes per annum (MTPA) . It is likely to begin production from the expanded refining capacity within two years.

Rosneft’s main activities include prospecting and exploration of hydrocarbon deposits, oil, gas and gas-condensate production, upstream offshore projects, processing, as well as oil, gas, and product marketing in Russia and abroad. Manoj Kumar Das, is the Principal Secretary to Chief Minister,Industry and Mines Department. Manoj Kumar Das is an architect of industrial revolution in Gujarat,