India’s Adani to invest more than $7.7 bln in Gujarat over next five years

Indian energy to logistics company Adani Group, a unit of S.B. Adani Family Trust, revealed that it plans to invest more than 55,000 crore rupees ($7.7 billion) in a clutch of projects in Gujarat in the next five years.

The company intends to foray into petrochemical business with a $2.2 billion project with BASF SE, a German chemical company.

Adani Group said that its commitments will also include the world's largest solar hybrid park in Khavda, Gujarat, with an anticipated investment of $4.2 billion. The projects are expected to create more than 50,000 new direct and indirect jobs in the state.

Furthermore, the company plans to set up a 1-gigawatt data center park in Mundra, Gujarat, a 1 million ton copper smelting and refining project, a clinker manufacturing plant in Lakhpat and extend it's photovoltaic overall.