The Adani Group will invest Rs 1 lakh crore in the next 7 seven years, said Karan Gautam Adani | Whuff News

Karan Gautam Adani

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 termed Karnataka as one of the hottest investment destinations in India. Not only does the state attract millions of tourists, it welcomes such investors and businesses, he said.
“The Karnataka government’s alignment with our country’s vision to become the world’s digital hub has resulted in unprecedented growth in the state. IT exports worth $65 billion, about one-third of our country’s total is an undeniable endorsement of your country’s and India’s rising growth trajectory,” Adani said at the Invest Karnataka: Global Investors Summit, which began today.
Asserting that it is very clear that our intention to build for the world is practical, Karan Adani said that Karnataka’s combination of smart and efficient dominance has invited businesses like the Adani Group.

“Having invested over Rs 20,000 crore, we are active in various sectors from cement, power, city gas, and edible oil to transport, logistics and digital,” Adani said that they are the largest independent energy producer in the state. The 1,200 MW Udupi power plant accounts for nearly 25 per cent 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 energy developer, it will invest more in the state’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 scaling up our operations,” Adani shared.

Mangaluru international airport is undergoing renovation and the Adani Group will expand the airport as well.

They will also expand their presence in the CNG sector as their CNG stations will be located at 11 key locations and with 50 km of piped CNG channels. Moreover, through Fortune, India’s leading FMCG brand, Adani Wilmar is increasing its presence in Mangaluru, said Karan Adani.

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

Further, the conglomerate, through the Adani Foundation, also intensified its social intervention programs and outreach along the coast in many sectors including education, community health, rural infra and sustainable livelihoods touching the lives of over 1.2 million people directly and indirectly.

Meanwhile, the three-day Invest Karnataka: Global Investor’s Meet was inaugurated on Wednesday. The event aims to set the state’s development agenda for the next decade.

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