Karnataka inks a dozen pacts at Vibrant Gujarat

Friday 16th January 2015 04:33 EST

Gandhinagar: "A high-level delegation, led by Commerce and Industry Secretary K Ratna Prabha, held meetings with potential investors and signed agreements with 12 firms for collectively investing Rs 501 billion across sectors in the state," the state industry department said in a statement.

Of the dozen firms, Hydro Design Management Company Ltd has expressed interest in investing Rs 100 billion for a 1,000 MW pumped storage hydro project, Rare Earth Holdings Ltd to invest Rs 93 billion for an LNG terminal and Convalt Energy India Ltd to invest Rs 62 billion for a 900 MW pumped storage hydro project.

Similarly, Hydro Design Management Company Ltd has proposed to invest Rs 20 billion on 100 MW wave energy project, Sunihar Enterprises Ltd to invest Rs 10 billion for an IT park, Sunihar Enterprises Ltd to invest Rs 10 billion to build a smart city, and Envee Developers to invest Rs 9 billion to set up a medicity.

Florida-based Creative Choice Group has proposed to invest Rs 56.50 billion to build industrial infrastructure infocity in the state's northern and southern regions. "The 75-member official-cum-business delegation networked with participants and flagged advantages of investing in the state. The delegates also interacted with a large number of overseas and domestic firms and explored new deals," the statement added. The official delegation met members of the India-China council for economic cooperation, Singapore business federation and an Israeli delegation at the summit.

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