Shell Energy India to invest $420mn in Gujarat state

Shell Energy India has entered into a memorandum of understanding (MoU) to allocate an investment of 35bn rupees ($420mn) across diverse energy projects in the western Indian state of Gujarat, the state government announced on August 23. 

As per the terms of the MoU, Shell Energy India will allocate 22bn rupees for the establishment of a renewable energy production plant spanning 1,200 acres in Banaskantha, located in north Gujarat. Additionally, the company will invest 8bn rupees in fuel retailing and electric vehicle (EV) recharge stations distributed across various locations within the state.

Shell Energy India will invest 5bn rupees towards LNG regasification terminal, asset integrity rejuvenation, and debottlenecking project. The company operates a 5mn tonnes/year receiving, storage, and regasification terminal in Hazira, Gujarat, which has operated since receiving its inaugural cargo in April 2005.