The fifth edition of the biennial Vibrant Gujarat 2011 event, which commenced here today, has received commitments from business honchos for investments worth nearly Rs 15 lakh crore.

Although the focus this year was expanded from being Gujarat-centric investments to make available a knowledge-sharing platform to investors and help non-Gujarat States and countries as well to organise their own investment-wooing seminars, various entities have signed 2,766 MoUs on the very first day promising investments to the tune of Rs 14.929 lakh crore, said Mr Maheshwar Sahu, Principal Secretary (Industries) and the Vibrant Gujarat spokesman this evening.

Seventy two of these MoUs were worth more than Rs 5,000 crore. About 12 per cent of proposed MoUs were rejected due to various reasons. Power sector accounted for 20 per cent of these MoUs, followed by financial services and banking (12 per cent), minerals-based projects (9 per cent) and the Dahej Special Investment Regions (SIR) with 8 per cent.

Altogether 48 power projects were committed investments of more than Rs 3.05 lakh crore while the SIR projects attracted Rs 1.34 lakh crore and 41 mineral-based industries Rs 1.34 lakh crore. Banking and financial services' 16 projects were committed Rs 1.72 lakh crore, oil and gas (16 projects) Rs 40,700 crore, Petrochemicals and Petroleum Investment Region (PCPIR)'s 153 projects would witness Rs 73,500 crore and auto, engineering and ceramics (73 projects) Rs 75,100 crore.

In addition, yesterday, 25 foreign universities, 36 Gujarat-based educational institutions and four non-Gujarat entities signed 120 MoUs for knowledge-sharing. The IITians, too, came forward with 15 MoUs for setting up centres of excellence. So far, this year, nearly 400 MoUs have been signed in the knowledge segment.

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