Adani Enterprises is likely to double its cement manufacturing capacity in Rajasthan by investing another Rs 7,000 crore, Gautam Adani said on Friday.

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“Following our acquisition of Ambuja Cements and ACC, we are now the second largest cement manufacturer in India. While we already have three cement plants and limestone mining assets, a significant part of our capacity expansion will continue to happen in Rajasthan,” he said in his address at the Invest Rajasthan 2022 Summit.

Adani added that there are several other projects underway on Rajasthan that are in various stages of execution and expansion. These include expanding the Jaipur airport into a world-class facility, developing networks to supply PNG and CNG and accelerating cleaner fuel availability to industrial, commercial, transport and domestic consumers, and new transmission projects to move the renewable power being generated.

“Combining all ongoing and future investments, we anticipate investing an additional Rs 65,000 crore in Rajasthan over the next 5 to 7 years and creating over 40,000 direct and indirect jobs,” the Adani Group boss said at the event.

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Adani’s remarks come weeks after the Adani group said it has completed the acquisition of Ambuja Cements and ACC Ltd. It closed the acquisition after completing the transaction with Swiss firm Holcim and an open offer, according to a statement.

The chairman had earlier said that what makes cement an exciting business is the headroom for growth in India, which exceeds that of every other country well beyond 2050.

Its acquisitions Ambuja Cements and ACC have a combined installed production capacity of 67.5 MTPA.

The two companies are among the strongest brands in India with immense depth of manufacturing and supply chain infrastructure, represented by their 14 integrated units, 16 grinding units, 79 ready-mix concrete plants and over 78,000 channel partners across India.

Meanwhile, in May this year, the Adani Group announced that it clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India.

At 1:55 pm, Adani Enterprises stock was trading 0.7 percent lower from the previous close at Rs 3,263 on BSE.

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