A diversified organization in India comprising 7 publicly traded companies, Adani Group has announced Rs. 65,000 crore investment in Rajasthan and it will create over 40,000 jobs.
Addressing the Inaugural Session of the Invest Rajasthan 2022 Summit at the Ranthambore Hall in Jaipur, Gautam Adani said that the Adani Group will continue to invest in Rajasthan and accelerate its investment in renewable energy.
Mr. Adani added, “Combining all ongoing and future investments, we anticipate investing an additional Rs 65,000 Cr in Rajasthan over the next 5 to 7 years and creating over 40,000 direct and indirect jobs.”
Many captains of the industry, such as Vedanta Chairman Anil Agarwal, Adani Group Chairman Gautam Adani, Tata Power CEO & MD Praveer Sinha, DCM Shriram CMD Ajay S Shriram and ArcelorMittal Chairman & CEO Lakshmi Mittal were present during the inauguration.
“We will give full cooperation in constructing a cricket stadium in Udaipur. We also discussed which districts in the state do not have a medical college, and how we can help the state in this direction,” Gautam Adani said.
“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.
Recently, The Adani group completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations.
The value of the Holcim stake and open offer consideration for Ambuja Cements and ACC is USD 6.50 billion, which makes this the largest-ever acquisition by Adani, and also India’s largest-ever M&A transaction in the infrastructure and materials space.
Post the transaction, Adani will hold 63.15% in Ambuja Cements and 56.69% in ACC (of which 50.05% is held through Ambuja Cements).