Shell Energy India would invest 3,500 cr to build a facility for renewable energy in Gujarat

Shell Energy India, it would spend Rs 3,500 crore in Gujarat to build a renewable energy facility, electric vehicle charging stations, and an LNG regasification terminal, which will lead to the creation of about 4,300 employment. According to a government announcement, the Gujarat government and Shell Energy India signed a memorandum of understanding (MoU) in this respect on Wednesday in Gandhinagar in the presence of the chief minister, Bhupendra Patel.

The deal was inked as part of the tenth Vibrant Gujarat Global Summit, which will take place in January 2019.  A renewable energy production facility would be built on 1,200 acres in the Banaskantha district of north Gujarat with a Rs 2,200 crore investment from Shell Energy India under the terms of this MoU. More than 1,000 people will have direct and indirect jobs thanks to the facility, which is anticipated to start commercial production by 2026.

Additionally, the energy giant will spend Rs 800 crore to build fuel retailing and EV recharge stations around the state, creating jobs for about 2,000 people in the process. According to the publication, this project will be operational by 2027. Additionally, Shell Energy India would contribute Rs 500 crore to the debottlenecking, asset integrity rejuvenation, and LNG regasification projects. According to the statement, this project will provide employment possibilities for 375 people and is anticipated to start commercial production by 2027.