Jaypee Group to invest Rs.33,000 crore in Gujarat

January 15th, 2011 - 10:51 pm ICT by IANS  

New Delhi, Jan 15 (IANS) Infrastructure conglomerate Jaiprakash Associates Ltd Saturday said it has committed Rs.30,000 crore for investment in the western state of Gujarat over the next 3 to 5 years.According to the company, the mega investment in the state comes as it signed six MoUs (memorandum of understanding) at the recently held ‘Vibrant Gujarat’ investors meet.

“These MoUs represent our continuing commitment to the development of Gujarat and creating thousands of new employment opportunities for the people,” said Manoj Gaur, group executive chairman, Jaiprakash Associates Ltd.

The planed investment includes setting up of an alumina plant for Rs.14,000 crore, one thermal power plant and grinding unit for Rs.6,000 crore, development and mining of a coal block worth Rs.8,000 crore, development of two jetties at Rs.1,000 crore and expansion of its cement plants production capacity for Rs.4,000 crore.

The company said that the projects are slated for Gujarat’s Kutch region, where it has already invested over Rs.6,000 crore in a greenfield cement plant. The plant’s current capacity of 2.4 million tonnes per annum (MTPA) would be increased to 4.8 MTPA.

The two-day Vibrant Gujarat Summit concluded Thursday at Gandhinagar. The state attracted commitments worth $462 billion through 7,936 pacts with a potential for 5.2 million jobs.

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