New Delhi: Asian billionaire Gautam Adani stated on Friday that he would invest Rs 65,000 crore in Rajasthan over the next five to seven years to build a massive 10,000 MW solar power facility, expand a cement mill, and modernise Jaipur Airport.
Adani’s ports-to-energy conglomerate is making investments in transmission lines for renewable energy as well as city gas infrastructure for selling CNG to cars and piped gas to homes and businesses.
He said that the Adani company already has a sizable presence in the state while speaking at the Invest Rajasthan 2022 Summit. It runs a thermal power plant, built a solar park, and provides coal to the state’s electricity production facilities.
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To increase the capability of producing renewable energy by 10,000 megawatts, the Adani Group is investing Rs 50,000 crore.
“This will be commissioned progressively over the next 5 years,” he said, adding the group just a week back achieved commercial operation of the world’s largest wind-solar hybrid power plant in Rajasthan.
In addition, after purchasing ACC and Ambuja Cements, it plans to quadruple its capacity for producing cement.
“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,” he said.
He added that the Jaipur airport, which will be enlarged, is also operated by the Group.
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Additionally, Adani would create a network to deliver piped natural gas and compressed natural gas (CNG) to users in the industrial, commercial, transportation, and residential sectors. Additionally, Adani would establish new transmission systems to convey the generated renewable energy.
“Combining all ongoing and future investments, we anticipate investing an additional Rs 65,000 crore in Rajasthan over the next 5 to 7 years and creating over 40,000 direct and indirect jobs,” he said.
The Adani Group, which began as a commodity trader in 1988 before quickly diversifying into the ports, airports, roads, power, renewable energy, transmission, gas distribution, real estate, FMCG, cement, data centres, and media industries, is also placing one of the biggest bets in the world on the energy transition.
It aims to increase production capabilities for green hydrogen, a fuel that can power both factories and automobiles. It intends to split water using renewable energy to create green hydrogen.
Given its capacity to produce solar and wind power at the lowest cost, Adani claimed the business is placing its bet on green hydrogen.
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“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.”
His organisation has already made over Rs 35,000 crore in Rajasthan’s industrial sectors.
These investments were spread over the 1,320 MW Kawai power plant and the 1,500 MW solar park, which has a 10,000 MW capacity. Additionally, it spent Rs 20,000 crore commissioning more than 4,000 MW of renewable energy projects.
For more than 4,300 MW of state thermal facilities, Adani Group provides coal.
Additionally, it runs two factories that produce edible oils in Alwar and Bundi, as well as high-voltage transmission lines, a dry port container terminal in Kishangarh, and other facilities.
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