Vibrant Gujarat Global Summit 2017: Adani Group to invest over Rs 48,000 cr by 2021, says Gautam Adani

New Delhi: Adani Group chairman Gautam Adani on Tuesday said the company plans to invest over Rs 48,000 crore in Gujarat in the next five years in various areas such as ports, solar, wind, edible oil and cement businesses.

Addressing the Vibrant Gujarat Global Summit 2017, the business tycoon said that the company has already invested Rs 48,000 crore in the state in the last five years and will invest more in the next five years.

Adani Ports to invest Rs 16,700 crore to expand state's ports in next 5 years, Adani informed the summit which was inaugurated earlier during the day by Prime Minister Narendra Modi.

Adani Group's investment in solar and wind will exceed Rs 23,000 crore by 2021, he said further adding that Rs 1,200 crore investment will be made in edible oil business.

Water and cement business will also see Rs 7,500 crore investment, the businessman said.

The eight edition of the Vibrant Gujarat Summit was inaugurated by Prime Minister Narendra Modi in Ahmedabad on Tuesday.

Among the many dignitaries present, Reliance Industries chairman Mukesh Ambani and Tata Sons' interim boss Ratan Tata were those present.

12 nations have agreed to become partner countries for the event, nameley USA, UK, Australia, Canada, Denmark, France, Japan, The Netherlands, Poland, Singapore, Sweden and UAE.