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8th Vibrant Gujarat Global Summit: Gautam Adani announces Rs 49,000 crore investment in Gujarat

Adani Group Chairman Gautam Adani On Tuesday Announced An Investment Foray Of Rs 49,000 Crore In Gujarat For Expansion Of Port Capacity As Well As Foraying Into Water And Cement Businesses Over The Next Five Years.

PTI | Updated on: 10 Jan 2017, 07:20:11 PM
Gautam Adani - File Photo

New Delhi:

Adani Group Chairman Gautam Adani on Tuesday announced an investment foray of Rs 49,000 crore in Gujarat for expansion of port capacity as well as foraying into water and cement businesses over the next five years.

Adani Group will set up a 10 million tonnes cement clinker plant at an investment of Rs 5,500 crore and another Rs 2,000 crore in a desalination plant in Gujarat, he said at the 8th Vibrant Gujarat Global Summit.

Adani Enterprises has already incorporate a new company, Adani Cementation (ACL), which will carry on the cement business. "In the past 5 years, we have invested Rs 48,000 crore in Gujarat," Adani said.

Adani Ports, India's largest private port and logistics company, in the next five years will invest Rs 16,700 crore to expand capacity of all its Gujarat ports at Mundra, Dahej, Hazira and Ajira and Tuna, he said.

Adani said the group is also accelerating its investment in renewable space in Gujarat. "In the year 2021, our new investments in solar as well as wind development will exceed Rs 23,000 crore," he added.

In addition to infrastructure business, the Adani Group is also making significant investment in expanding its agri footprint.

"Adani Wilmar is India's largest edible oil business and recognised as undisputed market leader that sells under brand name Fortune," he said, adding the group will invest Rs 1,200 crore in expanding edible oil manufacturing capacity at Mundra and Ajira.

The group currently operates the world's single largest edible oil refinery of 3400 tonnes per day capacity at Mundra. "We are now doubling our manufacturing capacity in Gujarat.

This expansion will see us making combined investment of Rs 1,200 crore across Mundra and Ajira," he said.

Adani said as part of its integrated infrastructure business model, two new businesses - water and cement - will see new investment.  

"We will be investing Rs 2,000 crore in setting up series of desalination plant across the state. Also, we are building a 10 million tonnes grassroot cement clinker plant at an investment of Rs 5,500 crore at Mundra," he said. "All this will further make Mundra most integrated infrastructure complex of the world."

The Summit, he said, has strategically positioned India as a key destination for international investments. He said that as a proud Indian and a proud Gujarati, he assures full support to the state from the Adani Group.        

"Let me summarise by saying that over the next 5 years we will invest Rs 49,000 crore in the state of Gujarat and will create direct and indirect job opportunity for 25,000 people," he said. 

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First Published : 10 Jan 2017, 07:11:00 PM