Vibrant Gujarat Summit: Adani Group To Invest Over Rs 2 Lakh Crore In Gujarat By 2029, Announces Gautam Adani

Gautam Adani commits over Rs 2 lakh crore investment in Gujarat for the next five years, surpassing the previous Rs 55,000 crore commitment
Gautam Adani
Gautam Adani

Adani Group Chairperson Gautam Adani announced at the Vibrant Gujarat Summit that the conglomerate will invest over Rs 2 lakh crore in the state in the next five years. At the last edition, Adani announced an investment of Rs 55,000 crore.

Speaking at the global event, Adani said that the firm is on track to achieve its target. "Our investment so far has surpassed Rs 50,000 crore and we are looking to expand further. Investment of Rs 2 lakh crore will create over 100,000 direct and indirect jobs by 2029."

The Chairperson reiterated the firm's investment in building the world's largest renewable energy park in Gujarat which is expected to install a capacity of 30GW.

Earlier this week, at the Tamil Nadu Global Investors Meet, the Adani Group had revealed plans for a massive investment exceeding Rs 42,700 crore in the state through its various subsidiary firms.

Adani Green Energy is slated to make an investment of Rs 24,500 crore in the coming 5-7 years, directed towards three pump storage projects. Adani Connex, on the other hand, is positioned to channel an investment of Rs 13,200 crore into the establishment of data centre. Ambuja Cements has outlined plans to earmark Rs 3,500 crore for the development of three cement grinding units.

Following the Supreme Court ruling in favor of Adani Group against the Hindenburg report, the conglomerate has been actively announcing multiple projects and investments.

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