Shell Energy India Private Limited signed an MoU to invest Rs. 3,500 crore in Gujarat in the presence of Chief Minister Bhupendra Patel. The MoU was signed between the state government and Shell Energy in Gandhinagar.

The tenth edition of the Vibrant Gujarat Global Summit is scheduled to be held in January 2024, further establishing Gujarat as a benchmark for the best investment destination under the leadership of Prime Minister Narendra Modi. The state government, led by CM Patel, has undertaken a series of measures to ensure the success of this summit.

This Vibrant Summit is evolving into a global platform for investors and entrepreneurs from both home and abroad. As a run-up to this summit, the state government has already initiated several MoUs with various industries.

In the fourth phase of this initiative, an MoU was signed by Shell Energy India on Wednesday, August 23, in the presence of the Minister of State for Industries, Harsh Sanghvi.

Under this MoU, Shell Energy India Private Limited will make an investment of Rs.2,200 crore to set up a plant for renewable energy production on 1200 acres in Banaskantha, North Gujarat. The plant will provide direct and indirect employment to more than one thousand people, and it is expected to commence commercial production by 2026.

In addition, Shell Energy India has invested ₹800 crore in fuel retailing EV recharge station in various locations of the state, thereby providing employment opportunities to approximately two thousand people. This project will be operational by 2027.

Shell Energy India will invest Rs. 500 crore in the LNG Regasification Terminal, Asset Integrity Rejuvenation, and Debottlenecking Project.

This project will create employment opportunities for 375 people, and it is expected to commence commercial production by 2027.

Shell Energy has successfully expanded its business operations in Gujarat over the last twenty years. At the heart of this success is the active role of the pro-active administration led by Chief Minister Shri Bhupendra Patel, which has facilitated the establishment of industries in the state. Nitin Prasad, Chairman of Shell Group of Companies, expressed his appreciation for it.

Gujarat has emerged as a leading state in the country in the renewable energy sector. He also added that it has become the first choice of investors due to its industry-friendly policies and excellent infrastructure facilities.

During the event, Patel highlighted that the state has established a conducive environment for prompt industrial investments. He emphasized a strong commitment to eliminating challenges for industrialists, while also underlining the government’s collaborative efforts with industries to accelerate the state’s development.

On behalf of the State Government, Mamta Verma, Principal Secretary of Energy Department, and on behalf of Shell Energy, Rahul Singh, Managing Director, signed the MoU.

Chief Secretary Raj Kumar, Chief Principal Secretary to Chief Minister Kailashnathan, Industries Commissioner Sandip Sagale, Joint Commissioner Kuldeep Arya, and other senior officers of iNDEXTb were present at the MoU signing.