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Adani group to invest Rs.65,000 crore more in Rajasthan

Group chairman Gautam Adani said the investment over the next five to seven years will generate over 40,000 direct and indirect jobs in the state.

Statesman News Service | Jaipur |

Invest Rajasthan: Chairman of Adani Group of Companies Gautam Adani, on Friday, announced that his group will invest an additional Rs 65,000 crore in Rajasthan over the next five to seven years to generate over 40,000 direct and indirect jobs in the state.

Speaking at the Invest Rajasthan conclave here, the business magnet said the proposed investment includes all ongoing and future investments in the state. The Adani Group has already invested over Rs.35,000 crore across multiple industrial sectors in the state of Rajasthan.

“Rajasthan’s social welfare schemes are trendsetters in driving employment, enabling greater and inexpensive access to education and healthcare, thereby making social security stronger,” he said in the presence of dignitaries including Chief Minister Ashok Gehlot and other top businessmen of the country.

Lauding the efforts of the chief minister towards making the state a business hub, Adani said, “In the upcoming economic domain, Gehlot’s vision has laid the foundation to turn Rajasthan into our nation’s solar energy leader. It is fascinating to see the inhospitable Thar desert repurposed into one of the global capitals of renewable power.”

“The Adani group is also making one of the world’s largest bets on Energy Transition. We are betting on green hydrogen, given our ability to generate the most inexpensive solar and wind power,” he elaborated.

Among others who spoke in the inaugural session included Anil Agarwal, Chairman of Vedanta Group, Sudhir Mehta, Chairman of Torrent Group, C K Birla, Chairman of National Engineering Industries ltd, Anish Shah, CEO and MD of Mahindra and Mahindra Ltd,

Dr Praveer Sinha, CEO and MD of The Tata Power Company Ltd, and Ajay S. Shriram, Chairman of DCM Shriram Ltd.

Rajasthan has already signed altogether 4192 MoUs and LOIs totalling about Rs.10.44 lakh crore and of these agreements, a total of 1670 MoUs and/or LoIs (Letter of Intents) are under implementation, which is about 41 percent.

Energy has emerged as the main investment sector with 57% of the proposed investment being in the implementation or under implementation phases of MoU/LOI. Apart from this, chemicals and petrochemicals have 18.2 percent, textiles 9.5 percent, petroleum and gas 5.9 percent, cement 4.6 percent, and textiles 3.4 percent,

Over 3000 businessmen including ten top tycoons are attending to make their industrial plans on small, medium and big enterprises with the Government of Rajasthan when an ‘Invest Rajasthan’ summit began here this morning.