Page 31 - Gujarat

NTPC Green Energy signs 2 pacts for green hydrogen projects in Gujarat

NTPC Green Energy Ltd (NGEL) on Friday announced the signing of two initial pacts for the development of green hydrogen projects in Gujarat. The NTPC's arm signed the Memoranda of Understandings (MoUs) with Gujarat State Petroleum Corporation Ltd (GSPC) and Gujarat Pipavav Port Ltd (GPPL) These pacts were signed at the Vibrant Gujarat Summit in Gandhinagar. In a statement, NTPC said the pact with GSPC is for the blending of green hydrogen in the gas networks of GSPC and green hydrogen mobility by setting up of green hydrogen fuelling stations in Gujarat. The MoU with GPPL aims to develop green hydrogen ecosystem, including production of Green Ammonia at the land provided by GPPL for export and domestic market, according to the statement. NGEL is a wholly-owned subsidiary of NTPC with an operational capacity of over 3.4 GW and 26 GW in pipeline, including 7 GW under implementation.

Tata Motors begins production at new Sanand plant acquired from Ford

The new facility is spread over 460 acres and is adjacent to Tata Motors' existing passenger vehicle facility in Sanand

Zydus Group to invest Rs 5,000 cr across various sectors in Gujarat: Patel

Zydus Group on Friday announced plans to invest Rs 5,000 crore in Gujarat in various sectors, including new generation biotechnology products and hospitals, its Chairman Pankaj Patel said. Speaking at the 10th Vibrant Gujarat Global Summit here, Patel said his group has signed Memoranda of Understanding (MoUs) with the state for the investments. "We have signed MoUs of over Rs 5,000 crore. We'll be investing into next generation biotechnology products, new medical device initiatives and hospitals for the healthcare sector," he said. Patel said he has been attending the biennial summit since its inception and thanked Prime Minister Narendra Modi and Union Home Minister Amit Shah for helping businesses when it needs it the most. He said business needs leadership with a vision and the one that pushes it to think bigger, which is offered in Gujarat. Earlier, Nayara Energy's head of refinery Prasad Panicker said the company will be expanding its refinery at Vadinar and also upping its

Tata's fab investment to be big, will move for Cabinet approval soon: Govt

The Tata Group's investment for the fab manufacturing in Gujarat will be "very big" and a Cabinet note seeking approvals for the project will be moved "very soon", Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on Thursday. Speaking at the biennial Vibrant Gujarat Global Summit here, Vaishnaw said the Tatas' proposed investment is important because it will be serving a wider spectrum of opportunities, right from fab to OSAT (Outsourced Semiconductor Assembly and Test). Vaishnaw said the fab proposed in Dhooera will be a semiconductor chips manufacturing factory, which will be a "very big investment". "Already there is a lot of good progress on it. Very soon, we will take it to the Cabinet and construction will begin after that," Vaishnaw told reporters. The Union Cabinet will have to grant approval for the project, he added. The Union minister also said the Tata Group will tie up with a technical partner to set up the project, but declined to share

Vedanta's Cairn Oil & Gas submits development plan for Jaya gas find in Guj

Vedanta Ltd's Cairn Oil & Gas on Thursday said it has submitted a field development plan for the Jaya gas discovery in an area in Bharuch district of Gujarat. The firm made a gas and condensate discovery in an onshore OALP block in August 2020. "Through exploration and appraisal successes, Cairn has now submitted a field development plan (FDP) to produce more than 2,000 barrels of oil and oil equivalent gas per day, initially," the firm said in a statement. It, however, did not give details of the investment plan and how long will it take to bring the field to production from the date of FDP approval. The FDP has been submitted to the government's Directorate General of Hydrocarbons (DGH). "This field has the potential to contribute to the company's goal of doubling production capacities and driving energy aatmanirbharta for India. This will be the first FDP submitted in the OALP regime, among 144 blocks awarded under 8 OALP rounds by the government to various companies," the ...

Toyota to roll out solid-state battery EVs globally in a couple of years

Last year, Toyota and oil refiner Idemitsu Kosan said they would tie up to develop and mass produce all-solid-state batteries, which they aim to commercialise in 2027 and 2028

Maruti Suzuki plans to start exports of EVs, lithium-ion battery this year

Maruti Suzuki India plans to start exporting Electric Vehicles (EVs) from India this year after launching them in the country, a senior company official said on Thursday. The company also expects to export lithium-ion battery cells and modules worth around Rs 750 crore this fiscal. "This year itself we will start exports of EVs to countries like Europe and Japan," Maruti Suzuki India Executive Director Rahul Bharti said at the Vibrant Gujarat Global Summit here. On the export of battery cells and modules, Bharti said, "We are exporting it to advanced countries like in Europe. We will be touching almost Rs 750 crore of lithium-ion advanced chemistry cells, battery packs and module exports this financial year." Automotive Electronics Power Private Ltd (AEPPL) -- a joint venture between Japan's TOSHIBA Corporation, Denso Corporation and Suzuki Motor Corporation, has a lithium-ion battery plant at Hansalpur in Gujarat. Maruti Suzuki procures the cells and models from the JV and export

Maruti to build second car plant in Gujarat, will invest Rs 35,000 cr

New plant will have annual production capacity of 1 mn units; will start operation in 2028-29

Darshan Hiranandani's company opens Rs 500 cr data centre in Gujarat

Darshan Hiranandani promoted Yotta Data Services on Wednesday announced the commissioning of a Rs 500 crore data centre in the GIFT City. The company has invested Rs 500 crore over the last five years to build the facility, which has a 2 MW power capacity, an official statement said. Speaking at the tenth edition of the Vibrant Gujarat Global Summit 2024 here, a senior official from global computing giant Nvidia, Yotta's partner in the venture, said the "artificial intelligence data centre" will be thrown open before March this year. The G1 data centre offers colocation, cloud, managed IT and cyber security services to store and process, data and applications for a variety of use cases, including AI models and enterprise applications, the statement said. This is the company's fifth facility in the country after similar investments in other states like Maharashtra, the statement said, adding that it has 350 racks. Hiranandani, its co-founder and Chairman, said, Gujarat, with GIFT C

Tata Power plans to boost renewable capacity fourfold by 2027: Report

Besides Gujarat, the company is tapping other Indian provinces with large potential for producing clean power

I-T dept found unaccounted sales of Rs 1,000 cr during raid against Polycab

The Income Tax department has detected "unaccounted cash sales" of about Rs 1,000 crore after it recently raided the Polycab group, a prominent wires, cables and electrical items manufacturer, the CBDT and official sources said on Wednesday. Unaccounted cash of more than Rs 4 crore was seized and more than 25 bank lockers were put on restraint after the searches were launched against the group on December 22 last year, the Central Board of Direct Taxes (CBDT) said in a statement. It said a total of 50 premises in Mumbai, Pune, Aurangabad and Nashik in Maharashtra, Daman, Halol in Gujarat and Delhi were covered. Some of the authorised distributors of the group were also covered in the searches, the CBDT, which is the administrative body for the Income Tax department, said. The CBDT statement did not name the group but official sources confirmed it to be Polycab India Limited. Polycab India issued a clarification to stock exchanges earlier in the day terming reports of "tax evasion

Maruti in discussion with Gujarat for land parcel for new plant: Bhargava

Maruti Suzuki India Chairman RC Bhargava on Wednesday said the company is in discussion with the Gujarat government to get the appropriate land parcel for its second plant to be set up at an investment of Rs 35,000 crore. The country's largest carmaker plans to produce 10 lakh units annually at the new plant as it looks to ramp up annual production capacity to over 40 lakh units by 2030-31. In an interaction with PTI, Bhargava said the auto major has inked an MoU with the Gujarat government for expanding business in the state. "It is like most of these MoUs which are non-binding and subject to the approval of the board. So far, the company board has not considered anything in this regard," Bhargava said. While noting that Gujarat is the preferred state for the new plant, he said the right set of land parcels is needed to set up the new facility. "We, along with vendors, will make an investment of Rs 35,000 crore subject to the availability of the appropriate land because so far, w

130,000 participants from 140 countries registered for Vibrant Gujarat

About 1.3 lakh participants from 140 countries have registered for the 10th edition of Vibrant Gujarat Global Summit, which has also emerged as a forum for discussions on global priorities and concerns, a senior government official said here. VGGS 2024 was inaugurated by Prime Minister Narendra Modi earlier in the day. SJ Haider, additional chief secretary of industries and mines department, said that 35 countries came onboard as partner nations for the three-day VGGS, up from 15 during the event in 2019. Over 125 seminars and conferences have been organised as part of the Vibrant Gujarat summit and the pre-Vibrant events that preceded it, he said. Around 1.3 lakh representatives from 140 countries representing academia and industry have registered themselves as participants for the inaugural event as well as seminars and conferences that are being held as part of the VGGS. This proves how impressive and useful the platform has emerged, the senior IAS officer said. Even the number

Welspun plans to invest Rs 40,000 cr in Gujarat for green hydrogen, ammonia

Diversified group Welspun World on Wednesday pledged Rs 40,000 crore investment to set up green hydrogen and green ammonia ecosystem in Gujarat. The group, through its entity Welspun New Energy Ltd (WNEL), will explore the opportunities for development of green hydrogen projects and its derivatives in the state, according to a statement. "The group is committed to support Gujarat's decarbonisation ambitions with a cumulative investment of over Rs 40,000 crore to build a vibrant green hydrogen and green ammonia ecosystem. Towards this, WNEL today entered into a strategic alliance with Gujarat Pipavav Port Limited (GPPL), promoted by APM Terminals, part of the AP Moller - Maersk Group," it said. WNEL is among the winning bidders under the Solar Energy Corporation of India's (SECI) SIGHT tender, where it has won incentives for 20,000 MTPA of green hydrogen production. It has also received in-principle approval from the Gujarat government for developing renewable energy projects on 20,

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At Vibrant Gujarat Global Summit, firms unveil big spending plans

At the Vibrant Gujarat Summit 2024, India's corporate goliaths- Adani, Ambani, and Tata- collectively announced mega investment plans for the state

ONGC Videsh incorporates wholly-owned subsidiary in Gujarat's GIFT City

ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation, has incorporated a wholly-owned subsidiary OVL Overseas IFSC Ltd in GIFT City, Gujarat. "This GIFT city entity will function as the global treasury centre to cater to the treasury activities of OVL and its 25 subsidiaries (including step-down subsidiaries) spread across 15 countries. "Given the business-friendly regulatory environment in GIFT City, OOIL (OVL Overseas IFSC Ltd) expects to efficiently consolidate funds available with the group in various countries and raise additional funds needed to achieve the ambitious target of producing 40 million tonnes of oil and oil equivalent (MMToe) by 2040 from overseas assets," the company said in a statement. India's first International Financial Services Centre at GIFT City gives options to Indian and overseas multinationals to shift their overseas investments onshore. "OOIL will, thus, act as ONGC Group's gateway to the world for its overseas .

Vibrant Gujarat Global Summit 2024: Here's the list of no-parking zones

Gujarat Police issued notices sharing no parking zones from January 9 to 13, 2024. The security is observed for the security of VVIPs to avoid undesirable incidents

Simmtech preparing for another colocation investment with Micron: CEO Chun

South Korean semiconductor critical parts maker Simmtech is preparing for another colocation investment with Micron, company Global CEO Jeffery Chun said on Wednesday. In his address at the 10th Vibrant Gujarat Global Summit here, he said the company is ready to make "a significant investment in India and create thousands of job opportunities for high skilled talents in the state of Gujarat together with Micron". "The Vibrant Gujarat Global Summit 2024 showcases the global movement of creating a new supply chain network in a fast growing nation like India, and Simmtech as a company from Korea is very proud to be part of this movement to achieve a new milestone, making a prosperous Gujarat or self reliant India supply chain," he said. Chun further said," We are now preparing for another round of colocation investment in India." Following Micron's investment plan in Gujarat, Chun said,"... with the support from the central and state government, we are ready to make a significant ...

Next 25 years are India's 'Amrit Kaal': PM Modi at Vibrant Gujarat Summit

Vibrant Gujarat Summit 2024: Prime Minister Narendra Modi said that the world looks at India as an important pillar of stability