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Indian State Economies

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Indian State Economies
#33
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>312 MoUs signed at Gujarat meet</b> 
Pioneer.com
RK Misra | Gandhinagar
The two-day Vibrant Gujarat urban summit, which ended here on Saturday, yielded 312 Memorandum of Understandings (MoUs) totalling a potential investment of Rs 2.5 lakh crore for a variety of urban development projects in the State, said Chief Minister Narendra Modi.

The Chief Minister who was delivering the concluding address at the summit in Ahmedabad on Friday said that 106 MoUs totalling an investment of Rs 80,995 crore had been signed for development of integrated townships in the State, 143 MoUs totalling Rs 11,4481 crore for infrastructure development projects and 63 MoUs totalling Rs 9,684 crore for setting up commercial complexes in the State.

Amongst the major companies involved in the urban development projects in the State were IL&FS which would be undertaking projects worth Rs 50,000 crores, DLF for Rs 30,000 crore, Subhash projects for Rs 5,000 crore and Reliance Retail for Rs 900 crore.

Modi said a pioneering step during the summit was the decision for pooled financing against the asset base signed with UTI bank which would open up a whole new world for 160 municipalities in the State which could now seek finance for various development projects. "This may well become a path breaking development which will show the way for financing a variety of development projects for various smaller local self government bodies in the country", he added
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