Shell Energy India Private Limited and the Gujarat government signed an MoU for the construction of a renewable energy plant, electric vehicle charging stations and an LNG regasification terminal.
At a cost of £220 million, a renewable energy facility would be built on 1,200 acres in the Banaskantha district in north Gujarat. The factory, which is anticipated to start operations by 2026, would generate close to 1,000 direct and indirect jobs.
In addition, the company will invest £80 million to set up fuel retail and electric vehicle charging stations. These projects are expected to become operational by 2027 and create around 2,000 jobs, an official statement said.
Shell India will also set up an LNG regasification terminal at the cost of £50 million, which will employ 375 people. Commercial production at the terminal will commence in 2027. According to the official release, 14 MoUs have already been signed as part of the pre-Vibrant Gujarat Global Summit MoU signing series, with a total investment of £387.4 million guaranteed. The textile, engineering, pharmaceutical, chemical, energy, and renewable energy sectors have all signed these MoUs.
The release quoted chief minister Bhupendra Patel as saying that Gujarat’s proactive governance and friendly policies have made it one of the top investment destinations in India.