Adani launches Rs.49,000-cr port project

Adding to its project portfolio in the sector, Adani group recently announced that his company would invest another Rs. 49,000-cr in Gujarat for expanding port capacity, by setting up cement and power projects including wind and solar power plants in the next five years. Adani Group will set up a 10 million tons cement clinker plant at an investment of Rs. 5,500-cr and another Rs. 2,000-cr desalination plant in Gujarat. Adani Enterprises has already incorporated a new company, Adani Cementation (ACL), which will carry out the cement business. He said that the fresh investment would not just increase economic activities in the area but will also generate huge job avenues both directly and indirectly. In the past five years, the company has invested Rs. 48,000-cr in Gujarat. Adani Ports, India's largest private port and logistic company and will invest Rs. 16,700-cr to expand capacity of all its Gujarat ports at Mundra, Dahej, Hazira and Ajira and Tuna, in the next half decades, Chairman Gautam Adani said.