UK firm to invest Rs 5lakh crore in state

MoU was signed between company and an official of GHB at a seminar on Smart Cities at the summit.

By: Express News Service | Gandhinagar | Published:January 13, 2015 3:51 am

In one of the biggest memorandum of understandings (MoUs) signed on the second day of Vibrant Gujarat summit, a little known UK-based firm, Saloria Architects has promised to invest a phenomenal Rs 5,00,000 crore in building a railway university, smart cities, affordable homes and other infrastructure projects in Gujarat.

The MoU was signed between the company and an official of the Gujarat Housing Board on Monday at a seminar on Smart Cities at the summit.

Another key MoU worth Rs 1,25,000 crore was signed between Gujarat Infrastructure Development Board (GIDB) and Surat Diamond Bourse for the development of “world’s largest diamond bourse” in Surat.

IL&FS Transportation Networks Ltd has signed a Rs 5,000 crore MoU with state government’s Roads and Buildings department for the development of the crucial Ahmedabad-Dholera Expressway project. This project is expected to link Ahmedabad with Dholera Special Investment Region (SIR), which is being developed as a smart city.

In the civil aviation sector, Maritime Energy Heli Air Services Pvt Ltd has inked an MoU for Rs five crore for developing a maintenance, repair & overhaul (MRO) facility for seaplanes in Gujarat.

A Rs 1,200 crore MoU inked by Finnish Waste Management Consortium promises to develop municipal solid waste and other waste management systems in Vadodara.

Other interesting MoUs that were signed during this seminar include, the one by the Defence research and Development Organisation (DRDO) and the Federation of Indian Chambers of Commerce and Industry (FICCI) to set up “bio-toilets” at various tourist locations, while the International Buddhist Confederation, New Delhi has signed an MoU (undisclosed amount) for development of a Buddhist circuit in the state.

The Indian Green Building Council (IGBC) has signed a memorandum of cooperation with IGBC-Ahmedabad Chapter to “promote GIFT City as a model Green City for upcoming smart cities and conduct assessment study jointly to evaluate the green criteria of GIFT City under IGBC Green Township Rating System. Similarly, the World Trade Centre GIFT Developers Pvt Ltd where the company will invest Rs 4,000 crore in developing an integrated mixed use project in Surat that will have both residential and commercial spaces.

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  1. M
    Mike
    Jan 13, 2015 at 10:27 am
    Looks like laundered money will come in.
    Reply