Leading Indian conglomerates and other companies have pledged to make combined investments of over Rs 35 lakh crore in Rajasthan over the next few years under the MoUs signed with the state government, with the largest commitment of Rs 7.5 lakh crore coming from the Adani Group.
Karan Adani, managing director of Adani Ports and SEZ Karan Adani said on Monday at the inaugural event of the “Rising Rajasthan” summit here that a larger portion of the proposed investments in the state would be going to green energy and cement manufacturing. “Over 50% of these investments will be made in the next five years,” he said.
Adani also said that the group will be making the world’s biggest green energy ecosystem involving 100 giga watt (GW) of renewable energy, 2 million tonnes of hydrogen and 1.8 gigawatt (GW) of pumped hydro storage. “These investments will turn Rajasthan into an oasis of green jobs.”
Apart from green energy the group has planned four new cement plants to build additional capacity of 6 million tonnes per annum in the state. “Rajasthan is critical to our ambition to become India’s latest cement company,” Adani said.
Other investments in the state would be in developing a world class facility at Jaipur airport, multi-modal logistics park and Inland Container Depot. Adani Green Energy has 11.1 GW operating capacity and the company is developing a renewable portfolio of 25 GW by 2025 which includes wind power, solar power, and hybrid power projects. It has plans to increase its renewable portfolio to 50GW by 2030. The company is already the largest renewable energy producer in India.
At the summit which was inaugurated by Prime Minister Narendra Modi, Aditya Birla Group Chairman Kumar Manglam Birla announced Rs 50,000 crore investment in the state of which Rs 6,000 crore will be in the state’s renewable energy sector over the next two years.
Aditya Birla Renewables has operating capacity of 0.95 GW and under construction capacity of 2.16 GW as on June-end. It is planning to achieve 4.5 GW capacity by 2026.
Birla said the group cement company will enhance its cement production in the state by 10 million tonnes in the state. AB Group’s Ultra Tech Cement at present has a capacity of 20 million tonnes production in the state. Overall cement capacity of Ultratech cement is 154.86 million tonnes per annum.
Other areas of investments in Rajasthan for the group will be in telecom, retail and jewellery making. Birla said that AB Group’s jewellery business unit is planning to set up a small manufacturing unit in the state. \
Chairman of the Mahindra Group Anand Mahindra said that the group will invest Rs 11,000 crore to set up an additional 2.8GW renewable energy capacity in Rajasthan. The group company Mahindra Susten has erected 1.1 gw of capacity in the state. Mahindra also said Club Mahindra has six properties in Rajasthan and plans to nearly double in the coming years.