Thursday, September 28, 2006

Jamnagar Leads in Investment Race.

Jamnagar has clearly moved Surat back in terms of industrial investments in the past five years, and Saurashtra district will be leading the growth over its north/souh gujarat counterparts in the coming years.

Jamnagar has attracted investments worth Rs 56,379 crore in the last five years. while Surat (including Hazira) has managed to bag Rs 38,906 crore.

Centre for Monitoring Indian Economy (CMIE) stat shows that the Saurashtra and mainly jamnagar will increase this gap in coming years, Surat do have major names like ONGC, GAIL, Kribhco, NTPC, Reliance, Essar, Shell and Cairn setting up new projects / expansions in Hazira, but the main focus now will be in the small-scale sector like diamond and textiles. Surat SEZ will attarct invetment worth Rs 1,000 crore in the apparel park, Rs 4,000 crore in the gems and Jewellery Park, and Rs 5,000 crore in a multi-product park.

Jamnagar is taking a giant leap from this small figures,  Reliance's second oil refinery and SEZ will alone bring in Rs 40,000 crore from the company, Reliance is keen to bring world largest downstream players such Exxon Mobil, Dow, Lyondell, Innovene, SABIC, JSR, Goodyear, Nippon Zeon, Borealis, Huntsman, Basell, Shinetsu, Formosa, LG, Vinolit, Vestolit, Novachem and BASF for setting up facilities in the SEZ.

Adding Essar's oil refinery adventures in its proposed SEZ  at Jamnagar, which is worth Rs 15,000 crore, and you would reach a staggering figure which could well cross the Rs 1,00,000 crore, this is the total investment in Hazira till date.

There will be huge downstream effect for Jamnagar investments and Jamnagar will grow significantly, said one official at Industrial Extension Bureau, Gandhinagar.

They also point out that while the small-scale sector has contributed to the investments in Surat, this has not happened in the case of Jamnagar, which has relied heavily on the biggies.




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