Business

Adani announces Rs 65,000 crore investment in Rajasthan


JAIPUR: Richest in Asia Gautam Adani on Friday announced an investment of Rs 65,000 crore in Rajasthan over the next five to seven years to establish a massive 10,000 MW of solar power capacity, expand a cement plant and upgrade Jaipur airport. The investment by the port energy consortium led by Adani also expands the city’s gas infrastructure to retail CNG to cars and gas to households and industries, as well as placing renewable power transmission lines.
Speaking at the Invest Rajasthan 2022 Summit here, he said Adani’s group already has a sizable presence in the state. It operates a thermal power plant, has set up a solar park, and supplies coal to the state’s power generation units.
Adani Group is investing Rs 50,000 crore to add 10,000 megawatts of renewable generation capacity.
“This will be put into operation gradually over the next five years,” he said.
Besides, the company is looking to double its cement production capacity after acquiring Ambuja Cements and ACC.
“While we already have three cement plants and limestone mining assets, a significant portion of our capacity expansion will continue to take place in Rajasthan. We anticipate an additional 7,000 investment. Rs crore to double our cement production capacity in the state,” he said.
The group is also the operator of the Jaipur airport to be expanded, he said.
Adani will also develop a pipeline natural gas and CNG supply network to enhance the ability to supply cleaner fuels to industrial, commercial, transport and domestic companies, and to design establish new transmission projects to transfer the renewable energy being generated.
“Combining all ongoing and future investments, we expect to invest an additional Rs 65,000 crore in Rajasthan over the next five to seven years and create over 40,000 direct jobs,” he said. direct and indirect.
The Adani Group, which started as a commodity trader in 1988 and rapidly expanded into ports, airports, roads, electricity, renewable energy, transmission, gas distribution, real estate, FMCG, cement, data center and media businesses, are also making the world’s biggest bet on the energy transition.
It is looking to build capacity to produce green hydrogen – a fuel that can run cars as well as factories. It plans to use renewable energy to split water to produce green hydrogen.
Adani said the group is betting on green hydrogen, with the ability to generate solar and wind power the cheapest. “I believe this opportunity to generate green hydrogen to turn Rajasthan’s deserts into ‘jobs oasis enabling energy transition’ is an opportunity that no other state has.”
His team has invested more than Rs 35,000 crore in many industrial sectors in Rajasthan.
These investments include the 1,320 megawatt (MW) Kawai power plant and a 10,000 MW solar park that produces 1,500 MW of green electricity. Besides, it has invested Rs 20,000 crore to operate more than 4,000 MW of renewable projects.
The Adani Group supplies coal to more than 4,300 MW of state-owned thermal power plants.
It also operates high voltage transmission lines, a dry dock container terminal in Kishangarh and two cooking oil plants in Alwar and Bundi.

news5s

News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button