India’s Adani Group has revealed plans to spend INR70bn (US$848m) doubling the group’s cement production capacity in the northern state of Rajasthan. This follows an announcement by the company to invest INR650bn (US$7.9bn) in the state over the next 5-7 years. Along with cement production, investments are planned in the renewables business, airport expansion, and networks to deliver piped natural gas (PNG) and compressed natural gas (CNG), reports Reuters.
Just a few weeks ago, Gautam Adani, chairman and founder of the Adani Group, said his company would invest more than US$100bn over the next decade, mainly in the energy transition market. The group has announced deals worth billions of dollars this year alone, the largest being its US$10.5bn acquisition of Holcim’s cement businesses in India - Ambuja Cements Ltd and ACC Ltd.
