“The creation of around 40,000 direct and indirect jobs is expected to result from an additional Rs 65,000 crore in Rajasthan over the next 5 to 7 years, according to Gautam Adani.”
Asian business magnate Gautam Adani announced on Friday that he would spend Rs 65,000 crore in Rajasthan over the following five to seven years to construct a large 10,000 MW solar power project, develop a cement mill, and modernise Jaipur Airport.
In order to sell CNG to cars and piped gas to homes and businesses, Adani’s ports-to-energy conglomerate is investing in both city gas infrastructure and transmission lines for renewable energy.
Gautam Adani Announcement on investment :-
He said that the Adani company already has a sizable foothold in the state while speaking at the Invest Rajasthan 2022 Summit in Jaipur. In addition to running a thermal power plant and constructing a solar park, it also delivers coal to the state’s electricity generation plants.
The Adani Group is investing Rs 50,000 crore in order to boost the ability to produce renewable energy by 10,000 megawatts.
“This will be gradually commissioned over the following five years,” he said, noting that the business had just a week earlier successfully commercialised the largest wind-solar hybrid power plant in Rajasthan.
It also intends to increase its cement production capacity after purchasing ACC and Ambuja Cements.
Rajasthan will continue to be a key component in our capacity expansion even though we now possess three cement plants and limestone mining assets. To quadruple our cement production capacity in the state, we want to invest an additional Rs 7,000 crore, he added.
He further mentioned that the Group also runs the expanded Jaipur airport.
Gautam Adani Network to PNG and CNG :-
Adani would also build a network to supply piped natural gas and compressed natural gas (CNG) to consumers in the commercial, residential, transportation, and industrial sectors. Adani would also build new transmission networks to deliver the generated renewable energy.
In total, he said, “we expect to invest an additional Rs 65,000 crore in Rajasthan over the next five to seven years and generate over 40,000 direct and indirect jobs.”
The Adani Group, which started out as a commodity trader in 1988 and quickly expanded into the ports, airports, roads, power, renewable energy, transmission, gas distribution, real estate, FMCG, cement, data centres, and media industries, is also staking one of the largest bets in the world on the energy transition.
It intends to boost green hydrogen production capacity, a fuel that can be used to power both factories and cars. It plans to produce green hydrogen by splitting water using renewable energy.
Gautam Adani on Green Hydrogen :-
Adani said the company is putting its money on green hydrogen since it can manufacture solar and wind electricity at the lowest cost. No other state, in my opinion, has this chance to produce green hydrogen and turn Rajasthan’s deserts into “an oasis of jobs allowing energy transition.” His organisation has already made over Rs 35,000 crore in Rajasthan’s industrial sectors.
The 1,320 MW Kawai power plant and the 1,500 MW solar park, which has a 10,000 MW capacity, received these investments. A further Rs 20,000 crore was invested on commissioning more than 4,000 MW of renewable energy plants.
Adani Group delivers coal for state thermal facilities with a capacity of more than 4,300 MW.
Additionally, it manages a dry port container terminal in Kishangarh, high-voltage transmission lines, two companies that make edible oils in Alwar and Bundi, as well as other infrastructure.