Adani Group to invest additional Rs 65,000 cr in Rajasthan | The Financial Express

Adani Group to invest additional Rs 65,000 cr in Rajasthan

The announcement comes days after Adani declared plans to invest in excess of $100 billion in the next decade, with 70% of it planned for the energy transition space.

Adani Group to invest additional Rs 65,000 cr in Rajasthan
The group’s renewable energy business is witnessing an investment of ₹50,000 crore for 10,000 megawatts, which is under implementation, and this will be commissioned progressively over the next 5 years.

Adani Group on Friday said it will make fresh investments to the tune of ₹65,000 crore in Rajasthan over the next 5-7 years, including ₹7,000 crore for doubling the cement manufacturing capacity in the state.

Speaking at the Invest Rajasthan 2022 Summit in the presence of chief minister Ashok Gehlot, Gautam Adani, chairman, Adani Group, said: “Combining all ongoing and future investments, we anticipate investing an additional ₹65,000 crore in Rajasthan over the next 5-7 years and creating over 40,000 direct and indirect jobs.”

The announcement comes days after Adani declared plans to invest in excess of $100 billion in the next decade, with 70% of it planned for the energy transition space.

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The group’s renewable energy business is witnessing an investment of ₹50,000 crore for 10,000 megawatts, which is under implementation, and this will be commissioned progressively over the next 5 years.

A week ago, Adani Group achieved commercial operation of the world’s largest wind-solar hybrid power plant located in Rajasthan.

“While we already have three cement plants and limestone mining assets, a significant part of our capacity expansion will continue to happen in Rajasthan. We anticipate investing another Rs 7,000 crore to double our cement manufacturing capacity in the state,” Adani added.

The Group acquired Ambuja Cements and ACC recently, catapulting it to the second spot in the list of India’s biggest cement producers.

Adani Group’s other projects in Rajasthan are under various stages of execution and expansion. These include expansion of the Jaipur airport, development of networks to supply PNG and CNG, and accelerating cleaner fuel availability to industrial, commercial, transport and domestic consumers, and new transmission projects, to move the renewable power being generated.

“The Adani Group is also making one of the world’s largest bets on energy transition. In this process, we are betting on green hydrogen, given our ability to generate the most inexpensive solar and wind power. I believe this opportunity to generate green hydrogen to transform Rajasthan’s deserts into an oasis of jobs enabling energy transition is an opportunity that no other state has,” Adani added.

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