Adani Group to invest in Azerbaijan’s mining & petrochem projects

The ports-to-energy conglomerate, Adani Group is considering mining and petrochemical projects in Azerbaijan as it attempts to grow outside of India. According to a statement from the President of Azerbaijan's office, Adani met with President Ilham Aliyev of Azerbaijan in Davos. The expansion of Azerbaijan's economy, the potential for cooperation with the Adani Group in the petrochemical, mining, and metallurgical industries, as well as other areas of mutual interest, were all topics of discussion during the talk, according to the statement. Adani has been rapidly diversifying its business in recent years, growing an empire that is centred on ports and coal mining to encompass airports, data centres, cement, and green energy. The Azerbaijani government released a statement saying, “According to Gautam Adani, the firm has vast experience in the fields of port management, transport and transportation in India and other regions of the world and has made direct investments in these fields in a number of nations. The parties agreed to conduct reciprocal visits of delegations and to hold comprehensive discussions on future collaboration.” The two parties underlined that Azerbaijan is the initiator of the East-West and North-South transport corridors, and one of the major transport logistics hubs and looked into possible areas of cooperation in this regard. In the context of the East-West transit corridor, they also recognised the importance of the Middle Corridor via Azerbaijan. The Trans-Caspian East-West Corridor is crucial to reviving the ancient Silk Road. It travels via train and road routes across Georgia, Azerbaijan, and the Caspian Sea and heads in the direction of China through the route Turkmenistan, Uzbekistan, Kyrgyzstan, and Kazakhstan.