Adani announces Rs 65,000 crore investment in Rajasthan

The richest Asian and business tycoon, Gautam Adani, on October 7 announced Rs 65,000 crore investment in Rajasthan state over the next five to seven years. A major part of the investment will be used to set up a 10,000 MW solar power capacity.

The investment will also be used to expand cement facilities and upgrade the Jaipur airport.

Part of the investment will also be used to span gas infrastructure to retail CNG, piped gas to households and industries as well as laying transmission lines to carry renewable power.

Adani made the announcement yesterday while speaking at the Invest Rajasthan 2022 Summit. He mentioned that the Adani group already has a strong presence in the state and said that Rs 50,000 crore will be invested in Rajashtan to add 10,000 megawatts of renewable power generation capacity.

Currently, Adani Group operates a thermal power plant and a solar park in the state. The Group also supplies coal to power-generating units in the state.

The business tycoon also highlighted that his company achieved commercial operation of the world's largest wind-solar hybrid power plant in Rajasthan last week.  

Apart from expanding its presence in renewable energy, the group is also aiming to double its cement manufacturing capacity following its acquisition of Ambuja Cements and ACC.

The Adani Group, which began as a commodity trader in 1988 and quickly expanded into ports, roads, airports, renewable energy, power, transmission, gas distribution, real estate, cement, FMCG, data centres, and media, is also placing one of the biggest bets in the world on the energy transition.

The group is now looking to build the capacity to produce green hydrogen.

"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,"Gautam Adani said.