Advantage Assam 2.0 witnessed historic feats with signing of MoUs worth ₹5.18 lakh cr, nearly five times the amount from the first such summit held previously in the year 2019. This significant development has solidified Assam’s position as a rising business hub and a testament of transformative shift in the State’s economic landscape. Investments from top corporate houses are poised to revolutionize the region’s industrial and infrastructural framework.
On the first of the event, Tata Power inked a Memorandum of Understanding (MoU) with the Assam Government to tie up and support up to 5000 MW of renewable and clean energy projects comprising Solar, Wind, Hydro and Energy Storage in the State with ₹30,000 cr investment over the next 5 years.
Impressed by the Government of Assam’s strategic goal of clean energy, Essar Group has signed a pact of ₹2,100 crore for investment in renewable energy, including solar power, battery storage and coal bed methane.
Another industrial giant Vedanta Group has promised to invest ₹50,000 cr in the oil & gas exploration, surveillance infrastructure, sports sector, promising a prosperous future for the State. The investment is aimed to produce 1,00,000 barrels of oil in the next two years in Golaghat, Jorhat & Sivasagar.
JSW Group will invest ₹7,000 cr in cement, renewable and thermal power sectors. The group is planning to set up cement facilities and the State’s largest thermal power plant. These investments are aimed to boost industrialization, infrastructure and employment while strengthening JSW’s presence in the Northeast region.
Adani Total Gas has promised an investment of ₹5,000 cr to enhance city gas distribution, EV charging, biomass, LNG for trucks & mining.
Oil India Limited has pledged an investment of ₹23,300 cr for exploration & production, facility refurbishment, CNG & PNG supply in Assam.
Numaligarh Refinery Ltd has signed an agreement of ₹10,711 cr for the setting up of sulphur plant, multimodal terminal, rail-fed terminal, LPG bottling, aviation fuel, green hydrogen in the State.
An MoU worth ₹1,200 cr was signed with Indradhanush Gas Grid to enhance the gas supply network, ensuring better connectivity and resource distribution is also on its radar.
Virinchi Healthcare Pvt Ltd signed an MoU worth ₹700 crore for the development of a 500-bed super-specialty hospital.
UltraTech Cement signed a ₹700 crore deal for the establishment of a grinding unit and a cement-bulk terminal, while Copper Plus Holdings SAC agreed to invest ₹1,000 crore in mining exploration and services.
Tamara Leisure Experiences Pvt Ltd signed an MoU worth ₹275 crore to develop a five-star luxury eco-resort in Kaziranga.
Additionally, Global Health Ltd signed a ₹500 crore MoU to strengthen healthcare infrastructure in Assam.
Other leading investors include DP World, Welspun, AMUL and the Bill & Melinda Gates Foundation, among others.
Post signing two non-financial MoUs with the Government of Assam, representative of ITE Education Service Singapore told Asom Barta, “This is indeed a great decision taken to foster human capital. We are excited to partner with the Government of Assam in this endeavour. Together, we will work towards making the State the next power house of India.”
Chief Minister Dr Himanta Biswa Sarma while speaking in this regard said, “From the next month onwards, we will discuss the MoUs which has a potential of providing employment to 2 lakh youths, on a conservative note. Assam will be in the next league of development over the next 5 years, even if it can implement 70% of the signed agreement.”
He said that individual discussions with companies on how to go about realising the investment on the ground, incentives needed, land requirement will start soon. “We will sit down with them for the preparatory roadmap over the next 6 months.”
