Adani Group charts mega $100-bn capex
Energy, infra, logistics top the 5-year investment plan
Mumbai: Gautam Adani, Chairman, Adani Group, on Friday announced that the conglomerate is preparing for a capital expenditure investment of nearly $100 billion over the next five years.
“The scale and pace of this commitment is unprecedented in India’s private sector history as we do our part for strengthening the very spine of India’s rise that must carry 1.4 billion dreams,” Gautam Adani remarked.
Addressing a conference of top doctors here, Gautam Adani said these investments are manifestations of the Adani Group’s ‘belief in the future of India’ comprising energy grids, logistics arteries and the country’s industrial backbone. He was addressing the 5thAnnual Conference of the Society for Minimally Invasive Spine Surgery-Asia Pacific (SMISS-AP), in Mumbai.
Gautam Adani narrated the Group’s success story of building the Mundra port from a mere salt export jetty to India’s largest multi-cargo port.
“Mundra is the manifestation of a belief made real. It is a reminder that when vision dares, destiny bends as it is now India’s largest multi-cargo port, the world’s largest private single-site thermal power plant, India’s first HVDC transmission line, India’s largest integrated solar and wind manufacturing hub and a cluster of vital industries that include petrochemicals, copper smelters, solar accessories and much more yet to come,” the Adani Group Chairman pointed out.
He said that after the US partner backed out of the Mundra salt export jetty at the outset, his company went ahead and built it on its own with no construction experience in the marshland. Around this time in 1995-96, Gujarat pioneered a public–private partnership policy for port development, aiming to tap private sector capabilities and the Adani Group ‘dived right in.’
The Mundra Port commenced operations in October 1998 with its first berth, thereby marking India’s first private port launch. A few years later, the SEZ policy was announced.
“Once again, we moved fast. While others saw barren land, we saw 40,000 acres of possibility,” Gautam Adani remarked.
