Adani to invest Rs. 2L crore in Gujarat in 5yrs
Adani Group will invest Rs. 2 lakh crore in Gujarat over the next five years, said Chairperson Gautam Adani, at the Vibrant Gujarat Global Summit 2024, today. This massive investment is expected to generate over 1 lakh direct as well as indirect jobs. Adani also gave a lowdown on the investments made by the firm in the state so far.
Previous investments and green supply chain expansion
Adani mentioned his commitment to invest over Rs. 55,000 crore in Gujarat by 2025. He shared, "We have already surpassed Rs. 50,000 crore across the various sectors I had promised and have vastly exceeded our target of 25,000 direct and indirect jobs." The Adani Group is now concentrating on expanding green supply chains, including solar panels, hydrogen electrolyzers, wind turbines, and green ammonia, to support the Aatmanirbhar Bharat initiative.
World's largest green energy plant in the works
The group is also constructing the world's biggest green energy plant in the Khavda district of Gujarat's Kachchh. This plant will boast a capacity of 30GW of renewable energy and span an area of 725sqkm. Adani praised PM Narendra Modi's vision for the Gujarat Summit and India's growth, stating that the country's GDP has grown by 185% since 2014, and per capita income by 165%.
Other major announcements at the summit
Adani is not the only major investor at the summit this year. Suzuki Group has announced it will invest Rs. 3,200 crore in Suzuki Motor Gujarat, while Arcelor Mittal will build the world's biggest steel manufacturing plant in Hazira by 2029. Paytm has decided to invest Rs. 100 crore in GIFT City. Finally, the Chairperson of Reliance Industries, Mukesh Ambani said the firm will commission a giga factory in the state in the second half of 2024.
The summit is live till January 12
The tenth version of the Vibrant Gujarat Global Summit is underway in Gujarat till January 12. This year's theme is "Gateway to Future." The summit is an international arena for business collaboration, strategic partnerships, as well as knowledge sharing. The aim is to ensure sustainable development and inclusive growth.
