At the sixth edition of ‘Vibrant Gujarat, Essar Group said it would invest an additional Rs 14,000 crore in the port sector and water supply projects in the state.
The group is said to have already invested Rs 88,000 crore in the state. Of the proposed fresh outlay, the group plans to invest Rs 10,000 crore on developing ports in Hazira and Salaya in Jamnagar capable of handling dry bulk, liquid and container cargoes.
Another Rs 4,000 crore would be invested in bulk water supply projects in the state, the group said. The fresh investments will have the potential to generate 15,000 jobs directly and indirectly as well as form a critical part of the state’s maritime infrastructure.
It is worth mentioning that majority of the group’s investment are in Gujarat. Its investment spreads across sectors such as oil refining, port, steel and power.
The group accounts for 20 per cent of Gujarat’s refining capacity, about 20 per cent of its power generation capacity and 30 per cent of port capacity. Essar’s 10 million tonne per annum steel plant is also located in Gujarat.
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