Diversified conglomerate Essar Group said on Wednesday it will invest Rs 30,000 crore (Rs 300 billion) in Gujarat for projects in various sectors, including power and refinery.
"Essar has committed to invest in Gujarat Rs 30,000 crore in power, refinery, ports and water infrastructure," Essar Group chief executive Prashant Ruia said in Ahmedabad during the 5th Global Summit of Vibrant Gujarat.
He, however, did not specify the timeline for the investments but said the earlier investments committed by the group in the state have been executed.
Essar Group is a major player in the port sector in Gujarat.
Its ports
and terminals business operates a crude oil and petroleum products terminal at Vadinar in the state.
The group is also constructing a dry bulk port at Hazira and a coal jetty at Salaya, all in the state.
It also has a 14 MTPA petroleum refinery at Vadinar which started commercial production on May 1, 2008.
Besides, it also operates a 515 MW gas-based power plant at Hazira.
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Diversified conglomerate Essar Group said on Wednesday it will invest Rs 30,000 crore (Rs 300 billion) in Gujarat for projects in various sectors, including power and refinery.