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Gautam Adani announces Rs 65,000 Crore investment in Rajasthan


Adani Group is investing Rs 50,000 crore to add 10,000 megawatts of renewable generation capacity.

Jaipur:

Asia’s richest man 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 solar power capacity, cement plant expansion and upgrade Jaipur airport.

The investment by the port-to-energy consortium led by Gautam Adani also expands the city’s gas infrastructure to retail CNG to cars and gas to households and industry, as well as placing renewable power transmission lines.

Speaking at the Invest Rajasthan 2022 Summit in Jaipur, he said the Adani Group already has a significant 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.

Gautam Adani will also develop a pipeline to supply natural gas and CNG from the pipeline to enhance the ability to deliver cleaner fuels to industrial, commercial, transportation companies and domestic consumers. at the same time establishing 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 power cars as well as factories. It plans to use renewable energy to split water to produce green hydrogen.

Mr. Adani said the group is betting on green hydrogen, given its ability to generate solar and wind power as cheaply as possible. “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.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

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