The Mukesh Ambani-led Reliance Industries Ltd (RIL) has signed an agreement to invest in a 5 mt cement project that would come up in the Kutch district of Gujarat. A memorandum of understanding (MoU) was signed during the two-day Vibrant Gujarat summit During the summit, Anil Ambani also announced large investments in the cement sector. He committed Rs 50,000 crore investments in Gujarat in the power and infrastructure sectors over the next 5-7 years. Anil Ambani also announced plans to locate the cement projects in Kutch, Porbandar and Junagadh. Kutch has one of the largest reserves of limestone, the basic raw material for cement. "We have plans to set up a cement plant of 5 mt capacity in Kutch," said Parimal Nathwani, president, RIL. Nathwani also added that the project cost would be finalised later. The MoU is part of the Rs 70,150 crore investment intent announced by RIL for the state. The company also plans to invest, Rs 40,000 crore in Jamnagar refinery project and, Rs 15,000 crore at petrochem complexes at Dahej and Hazira.