Essar Group, on Thursday, December 14, announced the signing of MoUs (Memorandum of Understanding) with the Government of Gujarat with a potential investment of INR 55,000 Crore. The MoUs were signed ahead of the Vibrant Gujarat Global Summit, 2024.
The company will invest in various fields, such as Energy transition, Power, and Port development across the state. These projects are:
- In Energy transition: An investment of INR 30,000 Crore towards developing a 1 GW Hydrogen project.
- In the Power Sector: Essar Power (a subsidiary of Essar Group) will invest INR 16,000 Crore towards the expansion of Phase II of the Salaya Power Plant near Jamnagar.
- In the Port Sector: An investment of INR 10,000 Crore transforming the Salaya Port into a logistics hub.
These projects are anticipated to generate nearly 10,000 direct and indirect job opportunities. Over the last four decades, Essar Group has invested more than INR 1 lakh Crore in the energy, metals & mining, and infrastructure sectors in Gujarat.
Biltrax Construction Data is tracking 28,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights and gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
0
