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News 2nd Day of Vibrant Gujarat Global Summit : Rs 50,000 cr worth...

2nd Day of Vibrant Gujarat Global Summit : Rs 50,000 cr worth MoUs signed

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With the participation of 110 countries, second day of Vibrant Gujarat Summit ended with 24,835 MoUs inked worth of Rs 50,000 cr. State Bank of India was leading the pack in signing memorandum of understanding for investments and credit.

SBI signed MoU with Gujarat government for extending bank credit especially in priority sector. Country’s largest lender will give Rs 30,000 cr worth of loans over two-period years, announced by summit officials.

Other major MoUs which were signed are as follows :

  • NABARD signed an MoU of Rs 13,000 cr worth for rural financing.
  • Union Bank of India entered into treaty with state government for providing bank finance of Rs 5,600 crore across various sectors.
  • An investment of Rs 500 cr each was also envisaged in GIFT City for setting up International Exchange and international clearing corporation by BSE and NSE.
  • MRF plans to invest Rs 4,500 cr in state over period of 10 years for setting up a manufacturing unit.
  • Adani Group Chairman Gautam Adani also made an investment commitment for expansion of capacity of three ports in the state and foraying into water and cement businesses over the next five years.
  • Urban Development signed 1,575 investment intention in the area of domestic real estate and waste management companies with various companies.

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