Shell Energy Pvt Ltd will invest Rs. 35 billion in Gujarat, for which a Memorandum of Understanding (MoU) has been signed in presence of Gujarat Chief Minister Bhupendra Patel and Minister of State Harsh Sanghavi.
Shell in line with the MoU signed last month will invest Rs. 22 billion to set up a renewable energy generation plant in 1200-acre land in Banaskantha district of North Gujarat, that shall create 1,000 employment generation approximately. The plant will be functional by year 2027.
As per the MoU, Shell Energy India Pvt Ltd will invest Rs. 5 billion in the projects of LNG regasification terminal, asset integrity rejuvenation and debottlenecking project. These projects are to be operational by year 2027 and will create 375 employment generation.
The MoU was signed ahead of the Vibrant Gujarat Summit 2024. In three MoU signing functions so far linked to the upcoming summit, 14 MoUs are signed for proposed investments of Rs. 38.74 billion. Estimated employment opportunities to be created in line with these MoUs are – 2100 in textile sector, 700 in engineering, 500 in pharma and 3085 in chemical sector.
Shell is expanding in Gujarat for last twenty years. Chairman of Shell Group of Companies, Nitin Prasad admired pro-active administration under the leadership of Chief Minister Bhupendra Patel in the State.
