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Vibrant Gujarat: Adani to invest Rs. 2 trn; Reliance to set up carbon fiber facility

Vibrant Gujarat: Adani to invest Rs. 2 trn; Reliance to set up carbon fiber facility

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Virendra Pandit

 

Gandhinagar: Billionaire Gautam Adani on Wednesday announced his group will invest Rs. 2 lakh crores, largely in building the world’s largest renewable energy park that would be visible even from space.

Speaking at the Vibrant Gujarat Global Summit 2024 here, he said this investment would potentially create 1 lakh jobs.

Of the Rs. 55,000 crores it committed at the last Summit, the Adani Group has already invested Rs. 50,000 crores, he said.

The apples-to-airport group, headquartered in Ahmedabad, is currently developing a green energy park in the Kutch district with a 30 GW capacity. It is spread over 25 square kilometers and would also be visible from space, he added.

Since 2014, India has achieved a 185 percent growth in GDP and 165 percent growth in per capita income which is unparalleled given the geopolitical and pandemic-related challenges, Adani said.

Another Gujarat-born Group, Reliance, will set up India’s first world-class carbon fiber facility in Hazira.

Announcing this, Reliance Group Chairman and Managing Director Mukesh Ambani said Reliance was, is, and will always remain a Gujarati company.

“Reliance has invested over Rs.150 billion (Rs.12 lakh crore) in creating world-class assets and capacities across India in the last just 10 years. Of this, more than one-third has been invested in Gujarat alone,” he said.

Ambani said Reliance will contribute to making Gujarat a global leader in green growth. “We will help Gujarat’s target to meet half of its energy needs through renewables by 2030.”

Reliance started building the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar. It will generate a large number of green jobs and enable the production of green products and materials that will make Gujarat the leading exporter of such goods. The company will roll this out in the second half of 2024, he said.

Reliance Jio completed the fastest roll-out of 5G infrastructure anywhere in the world, Ambani said.

For India’s bid for the 2036 Olympics, he said, Reliance and Reliance Foundation will join forces with several other partners in Gujarat to improve the education, sports, and skills infrastructure that will nurture the champions of tomorrow in various Olympics sports.

“No power on Earth can stop India from becoming a USD 35 trillion economy by 2047. And I see Gujarat alone will become a USD 3 trillion economy by then,” he added.

 

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