Gautam Adani to invest Rs 65,000 crore as Rajasthan summit attracts solar projects | Jaipur News


JAIPUR: The two-day ‘Invest Rajasthan‘ summit got off to a promising start with Gautam Adani of the Adani Group committing an investment of Rs 65,000 crore in the state over the next five to seven years on Friday.
The ports-to-energy conglomerate will invest Rs 50,000 crore to set up a mega 10,000MW solar plant, expand the cement plant and upgrade the Jaipur airport. Tata Power will also develop around 10,000MW of renewable energy, mainly solar, over the next five years.
Investments in the power sector has been the leading theme of the summit with MoUs accounting for close to 60% of the total proposed investments.
Promoting the state as the most friendly investment destination at the inaugural session, CM Ashok Gehlot said Rajasthan was peaceful with no labour unrest, better road infrastructure and a large resource base.
The state is making quick economic progress and the GDP has increased by Rs 3 lakh crore in three years, he said. “The total GDP today stands at Rs 12 lakh crore. The state has also moved up in the happiness index, making it a suitable destination for investment and business,” Gehlot said.
Tata Power to built 10k MW plant in Raj
Jaipur: The government has rolled out investor-friendly policies in several sectors and the MoUs and LoIs worth Rs 10.44 lakh crore, signed during the roadshows ahead of the summit, is a reflection of the positive developments taking place in the state.
Speaking at the summit, Adani said, “In the economic domain, your (Gehlot) vision has laid the foundation to turn Rajasthan into our nation’s solar energy leader. It is fascinating to see you repurpose, what many call the inhospitable Thar desert, into one of the global capitals of renewable power.”
“While we already have three cement plants and limestone mining assets, a significant part of our capacity expansion will continue to happen in Rajasthan. We anticipate investing another Rs 7,000 crore to double our cement manufacturing capacity in the state,” he said. After the acquisition of Ambuja Cements and ACC, Adani group has become the second largest cement manufacturer in India.
Adani said the group had already invested Rs 35,000 crore across multiple industrial sectors in the state.
Meanwhile, Praveer Sinha, CEO & MD, Tata Power, said, “Tata Power plans to have a renewable power portfolio of 10,000MW in the state in the next five years, including 8,000MW of utility scale projects, 1,000MW of solar rooftop and 1,50,000 solar pumps.”
“Both in terms of potential and what has been done so far, Rajasthan has today emerged as a role model to produce green energy through solar power,” he said.
Tata Power presently has a portfolio of 4,939MW. Till date, Tata Power has commissioned 2,066MW in Rajasthan and around 2,873MW capacity of solar projects are under construction, which will be completed in the next 12-24 months.
Other industrialists who spoke at the summit included Anil Agarwal of Vedanta Resources Ltd, Anish Shah of Mahindra & Mahindra Ltd, B Santhanam of Saint-Gobain India, Ajay S Shriram of DCM Shriram Ltd, and C K Birla of National Engineering Industries Ltd. L N Mittal of ArcelorMittal did not attend the summit due to health reasons.





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