Gujarat govt inks 8 more MoUs for proposed investment of Rs. 5,115 crore

GANDHINAGAR : Gujarat government on 2nd November signed 8 more Memorandums of Understanding (MoUs) with various investors for estimated investment totaling Rs. 5,115 crore.

MoUs were signed for a proposed investment of Rs. 1770 crore in pharma, medical devices, biological manufacturing, medicines, injections, tablets, capsule, bulk drug production. When proposed investment as provisioned in these MoUs is materialized, estimated 10,800 employment opportunities shall be created. The investors plan to start their new units by 2025. The locations proposed for investments are Vapi, Vaghodiya, Savli, Valiya, Panoli and Bavla.

Apart from the Pharma sector, MoUs were also signed for Rs. 3,000 crore estimated investment in engineering, auto and auto components sector, Rs. 205 crore in logistic parks and Rs. 140 crore in man made spinning yarn fabric production.

In total the 8 MoUs signed on 2nd November proposed an estimated investment of Rs. 5,115 crore. Ahead of the Vibrant Gujarat Global Summit 2024, so far 47 MoUs are signed for proposed investments of Rs. 26,000 crore.

These details above were shared by the State government in a formal communication Shared with the media.