Gujarat government signs Memorandum of Understanding with industrial enterprises regarding prospective investments once a week in advance of the Vibrant Gujarat Summit 2024, which is scheduled to take place in January of next year.

Four Memorandums of Understanding (MoUs) for investments in a range of industries, including textiles, industrial parks, and environmentally sound packaging projects, were signed. These agreements have the potential to bring in Rs. 1 billion in investment capital and generate more than 10,000 new job opportunities in Gujarat.

As per this MoU, LBTex Pvt. Ltd. will be investing Rs. 450 crore in a textile unit at Kerala GIDC of Ahmedabad, which will lead to the creation of approximately 1,000 jobs. This unit is expected to become operational by January 2024.

Additionally, an MoU worth Rs. 288.75 crore was signed by Mascot South Asia LLP for establishing an industrial park across 155 hectares in the Manpura area of Mandal taluka.

This park is projected to provide employment to around two thousand individuals and is planned to be operational by March 2026.