World Bank signs pact for Smart Cities

2,100 MoUs worth Rs. 25 lakh crore signed at Vibrant Gujarat Summit

January 12, 2015 11:38 pm | Updated November 16, 2021 05:21 pm IST - Gandhinagar:

The Government of Gujarat, the Government of India and the World Bank have entered into a tripartite agreement in support of Gujarat’s ‘swachhta abhiyaan’ and smart city initiatives, Chief Minister Anandiben Patel announced at the Vibrant Gujarat Summit here on Monday.

Around 2,100 MoUs to the tune of Rs. 25 lakh crore and 1,225 strategic partnership agreements were signed at the Summit in the areas of skill development, defence, renewable energy and biodiversity.

Corporate heads Mukesh Ambani of Reliance Industries, Gautam Adani of the Adani Group and Kumar Mangalam Birla of the Aditya Birla Group have pledged investments worth Rs. 1 lakh crore and Rs. 20,000 crore and Rs. 20,000 crore respectively.

Mr. Adani, whose rise is synonymous with his investments in Gujarat, announced on Monday that his company planned to invest Rs. 20,000 crore in Gujarat’s ports over the next five years.

Given the volume of expected investments in Gujarat, Ms. Patel said the State’s challenge had just begun. Her government would constitute high-level committees to monitor the progress of projects.

With Prime Minister Narendra Modi at the Centre, she hoped Gujarat would get speedy approvals.

“The agreements will boost Gujarat’s inclusive development. They will restore confidence among investors about the investment climate in Gujarat and also help in furthering the ‘Make in India’ campaign,” she said.

On the occasion, the government released a special Vibrant Gujarat postal cover.

At the last Summit held in 2013, 7,719 MoUs were signed and unofficial reports pegged the intended investment to be at Rs. 10 lakh crore.

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