Shell Energy Invests INR 3,500 Crore to Develop EV Recharge Station and LNG Regasification Terminal in Gujarat
Through this MoU, Shell Energy India Private Limited will outlay INR 2,200 crore to establish a plant for renewable energy production on 1200 acres in Banaskantha, North Gujarat.
August 24, 2023. By EI News Network
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 Shri Bhupendra Patel, has undertaken a series of measures to ascertain the success of this summit.
Through this MoU, Shell Energy India Private Limited will outlay INR 2,200 crore to establish a plant for renewable energy production on 1200 acres in Banaskantha, North Gujarat.
The plant will create direct and indirect employment opportunities for over one thousand people, and it is anticipated to begin commercial production by 2026.
Moreover, Shell Energy India Pvt Ltd has invested INR 800 crore in fuel retailing EV recharge stations in various locations of the state, thereby providing employment opportunities to around two thousand people. This project will be commissioned by 2027.
Shell Energy India Pvt Ltd will invest INR 500 crore in the LNG Regasification Terminal, Asset Integrity Rejuvenation, and Debottlenecking Project.
A total of 14 MoUs worth INR 3,874 crore in investments have been finalised three stages in the run-up to Vibrant Gujarat Summit-2024.
Shell Energy has successfully expanded its business operations in Gujarat over the last twenty years.
Gujarat has evolved as a state in the nation in the RE sector. He also expanded that it has become the first choice of investors because of its industry-friendly policies and infrastructure facilities.
During the event, CM Bhupendra Patel underlined that the state has established a conducive environment for prompt industrial investments. He emphasized a strong commitment to offsetting 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 the Energy Department, and on behalf of Shell Energy and Rahul Singh, Managing Director, signed the MoU.
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