April 20, 2024
Corporates

Welspun Investing Rs 1,500 crore in Expanding Capacity

At the recently concluded Vibrant Gujarat Summit, Welspun Group announced that they will invest Rs 1,500 crores in enhancing their textile production capacities in Gujarat.

In another announcement, Welspun added that it has committed to investing Rs 40,000 crores to develop a robust green hydrogen and green ammonia ecosystem in Gujarat.

The group has entered into an alliance with Gujarat Pipavav Port (GPPL), to explore and develop Green Hydrogen facilities for producing green hydrogen and its derivatives, including green ammonia and green methanol.

The plan is to produce one million tons of ammonia in the next 3-5 years, which will be set up in Kutch district of Gujarat and will also be exported.

The memorandum of understanding (MoU) was signed at the Vibrant Gujarat Global Summit 2024, marking a significant step towards realising the state’s vision for a sustainable and power infrastructure.

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