Modi hard sell

Vol 14, PW 15 (27 Jan 11) News in Brief
     

Gujarat chief minister Narendra Modi’s persuasive skill in selling Gujarat is winning more business friends.

During the Vibrant Gujarat summit in Gandhinagar this month, Hyderabad-based GVK Industries pledged Rs37,000cr ($8bn) for the construction of new power stations and a LNG terminal, a promise matched only by Gujarat-based Adani Group’s Rs38,000cr pledge. “It was Modi who asked GVK to look beyond coal into gas based power and to revive their plans for a LNG terminal,” reports a state government source.

GVK promised to set up 4000-MW coal-fired and 2000-MW gas–fired power stations, as well as a new LNG terminal at Okhamadhi on the Jamnagar coast. Group patriarch GVK Reddy, 77, said Modi was instrumental in convincing GVK to invest in Gujarat.

“To our surprise he repeatedly started guiding us,” said Reddy. “He told us what business to take up; where to take it up; where to get the raw materials; who to collaborate with; and how to start a business!”

LNG Summit