The Gujarat government on Thursday said only around 21 per cent of the Memorandums of Understanding (MoUs) inked during the 'Vibrant Gujarat Global Investors Summit (VGGIS) 2017' materialised into functional projects, belying claims on huge money pouring into Gujarat through such summits.
The information was given by Cabinet Minister for Energy and Petrochemicals Saurabh Patel in the Assembly's Budget Session.
Patel said that of the total accords inked for setting up conventional power plants during the VGGIS 2017, only 34 had become functional while the remaining 122 were yet to see the light of the day.
A total of Rs 8,270 crore was invested in these 34 completed projects.
Only one non-conventional power project had materialised, out of a total of 43 MoUs signed during the VGGIS 2017. A sum of Rs 3,312 crore was invested in this project.
The remaining projects were stalled due to various reasons like land acquisition, environmental and other clearances.
Replying to questions by certain legislators, the Minister said a 2,000-MW power plant to be set up at Dahej in Bharuch by Adani Power Limited had been abandoned due to non-availability of fuel for the plant. The MoU for the project was signed during VGGIS 2007.
Torrent Power Limited abandoned a 2,000-MW power plant proposed to be set up at Pipavav-Amreli, an MoU for which was signed at VGGIS 2007. The reason given was that coal earlier allocated for the plant was de-allocated.
Torrent firm had inked another pact during the 2009 summit for a 3,000-MW gas-based power plant at Surat with an investment of Rs 10,500 crore. The fate of the project still hangs in balance due to uncertainty over gas supply.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)