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Grasim, Arvind, United Phosphorous commit mega investments in Gujarat

In all, three MoUs worth Rs 10,400 crore signed with Gujarat govt

BS Reporter  |  Ahmedabad 

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Poll-bound Gujarat on Tuesday saw mega investments being committed with promises of in the state by the likes of Industries, Limited and Limited (UPL).

Industries Limited signed a memorandum of understanding (MoU) worth Rs 4,100 crore for setting up two man-made fibre plants at Vilayat GIDC and Kharach-Kosamba in Bharuch district. Limited signed one MoU worth Rs 300 crore for an apparel manufacturing facility at Dahegam that would produce 24 million garments per annum.

UPL has committed investment worth Rs 6,000 crore for an agro-chemical and intermediate facility in Dahej. As per its MoU, UPL will create direct and indirect jobs for 10,000 people at the plant, for which the state government will provide a 600,000 square foot plot in GIDC.

Industries, in its MoU, has promised direct and indirect employment opportunities for 1,300 people at the two facilities, which are likely to be commissioned in 2018 and 2020.

Ltd has stated that the MoU was signed as part of the state government's recent Garments and Apparel Policy 2017, under which the company plans employ 10,000 people, a majority of whom will be women.

Commenting on the MoU, Punit Lalbhai said, "The Gujarat apparel policy will have a far-reaching impact in helping the state forward integrate into apparel manufacturing and develop vertical solutions for global brands. This progressive policy from the Gujarat government will go a long way in making Gujarat a hub for the end-to-end textile and apparel value chain."

Gujarat government had earlier stated that the garment and apparel policy aims to create 100,000 jobs, making it as a major destination of garments, after attracting one of the highest capacities in spinning.

Making the announcement right ahead of the Election Commission (EC) declaring election dates in Gujarat, the state government stated that the investments "by such a large industrial group will attract investments by several small industries as the ancillary units. This will boost small businesses and employment in the state".

Meanwhile, UPL's investment is likely to boost business for existing chemical players in the region and create new employment opportunities.

 

First Published: Tue, October 17 2017. 21:12 IST
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