Shell Energy India on Wednesday said it will invest Rs 3,500 crore in Gujarat to set up a renewable energy facility, charging stations for electric vehicles and an LNG regasification terminal, which will create around 4,300 jobs.
A memorandum of understanding (MoU) in this regard was signed between the Gujarat government and Shell Energy India in Gandhinagar on Wednesday in the presence of Chief Minister Bhupendra Patel, an official release said.
The agreement was signed as part of the 10th edition of the Vibrant Gujarat Global Summit to be held in January next year, the release said.
Under this MoU, Shell Energy India will invest Rs 2,200 crore to set up a renewable energy generation facility on 1,200 acres of land in Banaskantha district of North Gujarat.
The facility will provide direct and indirect employment to over 1,000 people and is expected to start commercial production by 2026.
Besides this, the energy major will invest Rs 800 crore to set up fuel retailing and EV recharge stations across the state, which will generate employment opportunities for around 2,000 people. The project will be operational by 2027, the release said.
In addition, Shell Energy India will invest Rs 500 crore in the LNG regasification terminal, asset integrity rejuvenation and debottlenecking project.
The project will generate employment opportunities for 375 people and commercial production is expected to begin by 2027, the release said.
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