The Adani Group will invest Rs 1 lakh crore in the next 7 seven years, says Karan Gautam Adani | Rare Techy

Rare TechyNovember 2, 2022

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Karnataka Global Investors Summit: Adani Group to invest Rs 1 lakh crore in next 7 seven years, says Karan Gautam Adani

New Delhi: Son of Adani Group chairman Gautam Adani and CEO of Adani Ports & SEZ Karan Gautam Adani on Wednesday called Karnataka one of India’s hottest investment destinations. Not only does the country attract millions of tourists, it also welcomes such investors and businesses, he said.

“The Karnataka government’s alignment with our nation’s vision to become the world’s digital hub has resulted in unprecedented growth in the state. IT exports of $65 billion, about a third of our nation’s total is an undeniable validation of the growth trajectory of your country and India, ” said Adani at the Invest Karnataka: Global Investor’s Meet, which kicked off today.

Stressing that it is very clear that our intention to build for the world is eminently practical, Karan Adani said that Karnataka’s mixture of astute and efficient dominance has invited business houses like Adani Group.

“Having invested over Rs 20,000 crore, we are active in various sectors ranging from cement, power, city gas, and edible oil to transportation, logistics and digital,” Adani said, adding that they are the country’s largest independent power producer. The 1,200 MW Udupi power plant accounts for nearly 25 percent of Karnataka’s total installed thermal capacity, he said.

The conglomerate also has an installed renewable energy capacity of nearly 1,100 MW spread across 21 locations and as the world’s largest solar power developer, it will further invest in the country’s renewable energy sector.

“We have an installed cement production capacity of over 7 million tonnes across 4 plants in Karnataka and we will look to expand our footprint. On the coastal side, in Karnataka’s Dakshina and Udupi districts, we are ramping up our operations,” Adani said.

The Mangaluru international airport is undergoing a facelift and the Adani Group will be expanding the airport as well.

It will also expand its presence in the CNG sector as its CNG stations are set up in 11 key locations with 50 km of CNG pipelines. Moreover, through Fortune, India’s top FMCG brand, Adani Wilmar is increasing its presence in Mangaluru, Karan Adani confirmed.

“No investment portfolio would be complete in Karnataka without digital and we are looking to harness the unmatched strength that the state has to offer in the technology space. Across all sectors combined, we will invest nearly Rs 1 lakh crore in the next seven years in the state ,” he said.

Furthermore, the conglomerate, through the Adani Foundation, also intensified social intervention and outreach programs along the coast in many sectors including education, public health, rural infrastructure and sustainable livelihoods touching the lives of more than 1.2 million people directly and indirectly.

Meanwhile, the three-day Invest Karnataka: Global Investor’s Meet was inaugurated on Wednesday. The event is aimed at setting the country’s development agenda for the next decade.

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