Adani Group Chairman Gautam Adani promises to invest Rs 49,000 crore in Gujarat over 5 years

GANDHINAGAR: Adani Group Chairman Gautam Adani on Tuesday made the highest investment commitment on the first day by announcing an investment of Rs 49,000 crore in Gujarat.

"In the past 5 years, we have invested Rs 48,000 crore in Gujarat," Adani said, adding his group would create direct and indirect job opportunity for 25,000 people.

Addressing the eighth edition of Vibrant Gujarat Global Summit, Adani said the group would together invest Rs 7,500 crore in two new businesses--cement and water.The 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.

Adani Ports, India's largest private port and logistics company, will invest Rs 16,700 crore in the next five years to expand capacity of all its Gujarat ports at Mundra, Dahej, Hazira and Ajira and Tuna, he 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. 1,200 crore in expanwill invest ` ding edible oil manufacturing capacity at Mundra and Ajira.

The group operates the world's single largest edible oil refinery of 3,400 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.