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LEADING INDIAN CONGLOMERATES and other companies have pledged to make combined investments of more than ₹35 lakh crore in Rajasthan over the next few years under the memoranda of understanding signed with the state government, with the largest commitment of ₹7.5 lakh crore coming from Adani Group.

- FE BUREAU

Karan Adani, managing director of Adani Ports and SEZ, at the inaugural event of the 'Rising Rajasthan' summit on Monday said a large portion of the proposed investments would be going to green energy and cement manufacturing. "Over 50% of these investments will be made in the next five years."

Adani said the group will be making the world's biggest green energy ecosystem involving 100 GW of renewable energy, two million tonne of hydrogen and 1.8 GW of pumped hydro storage. "These investments will turn Rajasthan into an oasis of green jobs."

Apart from green energy, the group has planned four new cement plants to build additional capacity of six million tonne per annum. "Rajasthan is critical to our ambition to become India's latest cement company," Adani said.

Other investments would be in developing a world-class facility at the Jaipur airport, multi-modal logistics park and an inland container depot.

Adani Green Energy has 11.1-GW operating capacity and the company is developing a renewable portfolio of 25 GW by 2025. The portfolio includes wind power, solar power and hybrid power projects. It has plans to increase its renewable portfolio to 50 GW by 2030.