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Adani Group to invest Rs 49000 crore in Gujarat in the next 5 years
The group to foray into water and cement businesses
Port major Adani Group will be investing as much as Rs 49,000 crore in Gujarat over the next five years. This was revealed by Gautam Adani, chairman, Adani group. He was speaking at the inaugural session of Vibrant Gujarat summit 2017.
Elaborating on the details of investment, he said that Adani Ports will invest Rs 16,700 crore on expanding the existing facilities at Mundra, Dahej and Hazira. This include two new container terminals which will take the overall capacity to 10 million TEUs. A LPG terminal will also be set up and a railway line would be laid to connect Hazira to the Delhi-Mumbai freight corridor.
He also announced that Rs 23,000 crore in the renewable energy space — both solar and wind, indicating the group's increased focus in this space. He also announced that the group will foray into two new sectors -- water, where it will invest Rs 2000 crore to set up desalination plants and cement, where it will invest Rs 5,500 crore to build a 10 million tonne facility.
These investments come on the back of Rs 48,000 crore the group had invested in the state in the past five years. He said 18 years ago the group started off with a humble salt jetty at Mundra. The group's rapid growth is testimony to the investment climate that Gujarat offers to the investors.
