India's Adani Group will invest $7.39 billion in the eastern state of Odisha

MUMBAI, Dec 1 (Reuters) – India’s Adani Group, owned by Asia’s richest man Gautam Adani, will invest 600 billion Indian rupees ($7.39 billion) over the next 10 years in the mineral-rich state of Odisha, a top executive said. principal on Thursday.

The group will commission a liquefied natural gas (LNG) terminal with a capacity of 5 million tonnes at the state’s Dhamra port this month and plans to double this capacity over the next five years, Karan Adani, CEO of Adani Ports and Special Economic Zone ( APSE.NS), said in a speech at an investment summit in the state.

“Our continued commitment to Odisha is shown in our planned capital investment, which will exceed Rs 60,000 crore over the next ten years. I expect this to create tens of thousands of direct and indirect jobs,” Adani said in his speech.

Gautam Adani, whose empire spans gas and power projects as well as port and logistics businesses, said in September that his company would invest more than $100 billion over the next decade, with 70 percent earmarked for the energy transition space.

($1 = INR 81.1470)

Reporting by Shilpa Jamkhandikar Editing by Mark Potter

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