Rajasthan government has inked Memorandum of Understanding (MoUs) worth Rs 69,789.93 crore with various companies for its upcoming Invest Rajasthan 2022 Summit. The Investors Summit started with MoUs signing ceremonies from New Delhi. The state government will host the Invest Rajasthan Summit in Jaipur on 7 and 8 October 2022.
The event witnessed the presence of Chief Minister Ashok Gehlot; Shakuntla Rawat, Industries & Commerce Minister of Rajasthan Government; Rajiv Arora, Chairman, The Rajasthan Small Industries Corporation; Usha Sharma, Chief Secretary, Rajasthan; Veenu Gupta Additional Chief Secretary Industries & Commerce, Rajasthan; Shivprasad M Nakate, MD RIICO, Rajasthan; Om Kasera, Commissioner Bureau of Investment Promotion, Rajasthan; Madhav Singhania, Deputy Managing Director & CEO JK Cement, among others.
During the event, MoUs worth Rs 70,000 crore was inked by the Rajasthan government. These projects will create direct employment opportunities for 11,846 people. The investments were majorly envisaged in various districts including Bhilwara, Chittorgarh, Jhalawar, Ajmer, Jaipur, Udaipur, Alwar, etc. where RIICO has developed special sectoral zones over the years.
The state received investment proposals from renewable energy, mining, ESDM, minerals, petrochem, textile, tourism, medical health, IT, EV and agro processing industries. The state government has created a single window clearance for investors, which helped in creating a conducive environment for investment.
The state has inked around Rs 11 lakh crore worth MoUs or investment commitments so far. Moreover, investment commitments worth Rs one lakh crore is expected come in September 2022 following a conducive environment for investors in the state.
The state has been able to convert around 40 percent of the MoUs into real projects, 12 percent stands implemented and 28 percent are under various stages of implementation.
Some of the notable investments include:
Avaada Power has proposed to invest around Rs 40,000 crore in green hydrogen & ammonia. The company would set up a green ammonia facility with a production capacity of one million tpa and a renewable energy power plant in Kota. The project will provide direct employment opportunities to around 3,500 people and indirect jobs to over 10,500 people.
Apart from this, O2 Power SG proposed to invest Rs 25,000 crore in renewable energy and solar power across various districts, while Asahi India Glass will infuse in Chittorgarh.
Saint-Gobain has proposed to set up float glass manufacturing with an investment of Rs 1,000 crore in Alwar. Varun Beverages will be establishing a manufacturing unit for carbonated soft-drinks, fruit juices & packaging products of Rs 636 crore, while Wipro to pour Rs 200 crore in hydraulic cylinders in Jaipur. Moreover, JK Cement will invest another Rs 2,000 crore in Jaisalmer for another manufacturing plant.
Earlier, NHPC Renewable Energy (NHPC REL) also inked a MoU with government of Rajasthan for development of ultra-mega renewable energy power park in the state. The memorandum provides a framework under which parties may collaborate and cooperate for setting up of 10 GW RE Parks (UMREPP)/ projects at sites identified inside Rajasthan, by optimum utilisation of resources and knowledge base of both parties. Also, the RE projects will be developed either on EPC or developer mode by NHPC REL.
Similarly, SJVN has signed an MoU with the state government for developing 10 GW renewable energy projects /parks. SJVN will establish 10,000 MW renewable energy projects on the land banks to be allocated by Rajasthan Renewable Energy Corporation. An investment of Rs 50,000 crore is estimated for developing these projects over the next five to seven years.