Reliance ADAG to invest Rs.105 bn in Gujarat

January 13th, 2009 - 10:32 pm ICT by IANS  

Ahmedabad, Jan 13 (IANS) The Reliance Anil Dhirubhai Ambani Group (ADAG) Tuesday signed three memorandums of understanding (MoUs) worth Rs.105 billion (Rs.10,500 crore or $2.13 billion) for its proposed projects in Gujarat.Group chairman Anil Ambani said the investments would be made for building a port jetty in Saurashtra, a power plant and three cement factories.

Addressing a gathering at the Vibrant Gujarat Global Investors Summit here, Ambani said his group was committed to invest in the state - not just to help the state’s ambitious industrialisation plan but also to create jobs for the people of Gujarat.

The three MoUs were signed on the last day of the two-day annual summit here, which has seen a total of 8,500 MoUs being signed, promising an investment worth Rs.12 trillion (Rs.1,2000,000 crore).

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