Indian-French venture would invest Rs.1,568 cr in 8 years
Diversified conglomerate Adani Group has committed Rs.42,700 crore in Tamil Nadu across various sectors on the second day of the Global Investors Meet 2024 held in Chennai 8-10 Jan.
At the valedictory session of the event organised by the ruling DMK government, a memorandum of understandings between the Adani Group and the state government were signed in the presence of Chief Minister M K Stalin, Minister for Industries TRB Rajaa, Adani Ports and Special Economic Zone managing director Karan Adani.
The investments by Adani Group is one of the big ticket projects bagged by the state government, which has signed a total Rs.6.64 lakh crore worth of investments committed by various multi-nationals across sectors during the Meet 2024.
Adani Green Energy Ltd is making Rs.24,500 crore (of the total Rs 42,700 crore) investment in three pump storage projects in the next five to seven years, Adani Group said in a company statement on 8 Jan.
Adani Green is targeting a total capacity of 4,900 MW through facilities in Thenmalai, Alleri and Aliyar in the state.
Besides, Adani ConneX, the hyperscale data centre provider of the Group, would pump in Rs.13,200 crore for setting up a data centre while Ambuja Cements (a member of Adani Group) has committed Rs.3,500 crore for establishment of three cement grinding units in the state.
Adani Total Gas Ltd would invest Rs.1,568 crore in the next eight years, the statement said.
The Adani Group’s presence in Tamil Nadu is across sectors including ports and logistics, edible oil, power transmission, city gas distribution, data centres, green energy and cement manufacturing.
The Adani Ports and Special Economic Zone currently operates Kattupalli and Ennore Ports near Chennai and have made investments worth Rs.3,733 crore so far. Fiinews.com
