Gujarat signs MoUs worth 10,400 Cr with 3 companies under Make in Gujarat

Oct 18, 2017 15:03 IST

The state government of Gujarat on 17 October 2017 signed 3 MoUs worth Rs 10,400 Cr with three companies that have the potential of creating 21,300 job opportunities in the state.

The MoU’s were signed under the Make in Gujarat initiative in the presence of the state’s Chief Minister, Vijay Rupani. The three companies that signed the MoUs include United Phosphorous Limited (UPL), Grasim Industries Limited (GIL) and Arvind Limited.

First MoU

• The state signed a MoU worth Rs 6000 Cr with United Phosphorous Limited. According to the pact, the company will set up a plant to produce agro-chemicals and intermediates at Gujarat Industrial Development Corporation’s (GIDC) Chemical Zone in Dahej.

• The GIDC would be providing the company with a 6 lakh sqm land to set up the chemical plant.

• This project will provide skill development and employment opportunities to more than 10,000 unemployed youth.

• UPL has big chemical projects in nine different countries including China and France.

CA eBook

Second MoU

• The Industries and Mines Department of Gujarat has signed a MoU worth Rs 4100 Cr with Grasim Industries Ltd (GIL) who are producers of manmade fibre to set up two fibre manufacturing plants.

• The plants will be set up at Kharach-Kosamba and the other at Vilayat in Bharuch district.

• The two units are expected to generate employment opportunities for around 1300 people.

• The units will be operational by 2018 and 2020.

• As a result of these units, there will be enough opportunities to develop other small enterprises and the transport sector.

Third MoU

• The final MoU worth Rs 300 Cr was signed with textile manufacturer Arvind Limited. The apparel company has agreed to set up a garment manufacturing unit at Dehgam near Gandhinagar.

• The company plans to start the project by September 2018.

• The unit aims to achieve an annual production of 2.40 Cr of shirts and jeans.

• The manufacturing unit has the potential to create 10,000 jobs, among which 80 per cent will be for women, as a majority of women are employed in the Garment and Apparel sector.

• The MoU was been signed days after the state government announced its new garments and apparel policy.

The functioning of these units will not only help the youth of Gujarat get employment but also a broad range of experience in skill development.

Read more Current Affairs 

Read Monthly Current Affairs

Current Affairs 2017

Is this article important for exams ? Yes1 Person Agreed

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK