Adani Group Chairman Gautam Adani – currently the 14th richest person in the world having a net worth of Rs 6 trillion (9 78.9 billion), is all set to venture into a new industry.
Gujarat’s Adani Group has been entering different sectors for some time now. The company is now going to produce cement after joining Airport Management Services last year.
According to informed sources, Adani Group will set up an integrated cement plant near Tundawandh village in Mundra taluka of Kutch. The company applied for regulatory and environmental clearances in October.
The Adani Group is also planning to set up a company called – Adani Cement Industries Limited in June 2021, under the auspices of Adani Enterprise Limited.
According to a central government official, Adani’s proposal was discussed in the environment department in November. However, no official announcement has been made by the company so far.
The company has identified 800 acres of land in Mundra, Kutch for the cement project. The land is located in the Special Economic Zone (SEZ) owned by Adani Ports and Special Economic Zone Limited.
The land will be de-notified as non-SEZ land and may be transferred to Adani Enterprise on a commercial basis.