Business Standard

Rajasthan attracts investment commitments worth nearly Rs 70k cr

Rajasthan Chief Minister Ashok Gehlot exuded confidence that investment commitments worth Rs one lakh crore would come in September following a conducive environment for investors in the state

Ashok Gehlot, Rajasthan, Investors Summit

As per a statement, the MoUs of Rs 69,789.93 crore have been successfully signed by the Rajasthan government, creating a total of 11,846 direct employment opportunities.

Press Trust of India New Delhi
Rajasthan's upcoming investor summit - Invest Rajasthan 2022 - began on Wednesday in the national capital and MoUs worth almost Rs 70,000 crore were signed by various firms.
Rajasthan Chief Minister Ashok Gehlot, present on the occasion, exuded confidence that investment commitments worth Rs one lakh crore would come in September following a conducive environment for investors in the state.
The state government's upcoming Investors Summit Invest Rajasthan 2022 - has started with MoUs signing ceremonies here on August 24, 2022.
As per a statement, the MoUs of Rs 69,789.93 crore have been successfully signed by the Rajasthan government, creating a total of 11,846 direct employment opportunities.
The investments were envisaged in various districts across the state, including Bhilwara, Chittorgarh, Jhalawar, Ajmer, Jaipur, Udaipur, Alwar, etc. where RIICO (Rajasthan State Industrial Development and Investment Corporation) has developed special sectoral zones over the years.
After the ceremony, the chief minister told the reporters that there is a very good investment environment in Rajasthan and about Rs 11 lakh crore worth (MoUs or investment commitments) have already been signed so far.
"We hope that investment MoUs (commitments) worth Rs one lakh crore would be signed in September. Besides, more investors are expected to come to the state later during 'Invest Rajasthan' scheduled on October 7 and 8 in Jaipur," he said.
Gehlot also informed that the state government has created a single window (one point clearance) for investors, which helped in creating a conducive environment for investment in the state.
About materialising the investment commitments Gehlot said that "we hope that 40 per cent (of the commitments) would be fructifying (seen on the ground or materialise)".
He also said that under Vibrant Gujarat, only about 15 to 20 per cent (of investment commitment) materialised.
The chief minister said that investors from abroad would also participate in 'Invest Rajasthan'.
About the debt situation of Rajasthan, he explained that the states cannot take a loan of even Rs one thousand with permission of the Centre as per the FRBM Act and there is a formula under the Act to approve state loan proposals.
Some of the notable investors have lined-up the huge projects such as Avaada Power has proposed to invest about Rs 40,000 crore in green hydrogen & ammonia; O2 Power SG Pte - Rs 25,000 crore in renewable energy and solar power; and Asahi India Glass Ltd - Rs 1,400 crore in Chittorgarh;

Saint Gobain has proposed to set up float glass manufacturing with the investment of Rs 1,000 crore in Alwar.
Varun Beverages Ltd will establish a Rs 636 crore manufacturing unit for carbonated soft drinks, fruit juices and packaging products, and Wipro committed to investing Rs 200 crore in Jaipur for hydraulic cylinders.
In a BSE filing, state-owned hydro power giant NHPC stated that now a memorandum of understanding (MoU) has been signed on Wednesday between the Rajasthan government and NHPC Renewable Energy Ltd (a wholly-owned subsidiary company of NHPC Ltd) for the development of ultra mega renewable energy power park in the state.
Under the MoU, both parties may collaborate and cooperate on setting up 10 GW RE (renewable energy) parks (UMREPP)/ projects at sites identified inside Rajasthan by optimum utilisation of resources and knowledge base of both parties.
They will also develop RE parks and projects in the areas identified. The RE projects will be developed either on EPC or developer mode by NHPC REL.
In another statement, state-owned SJVN Ltd stated that the company has signed an MoU with the Rajasthan government for developing 10 GW renewable energy projects/parks.
With the addition of 10,000 MW capacity, the portfolio of SJVN has now reached 42,000 MW.
Over 40,000 units are already operational in the RIICO industrial areas and over 150 more industrial parks are under the planning process.
Rajasthan is becoming a strategic location for any investor as it covers about 58 per cent of the DMIC (Delhi Mumbai Industrial Corridor) influence area and the new GAS Grid project -- spread over 1,730 Km.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Aug 24 2022 | 10:16 PM IST

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