Adani Group will invest K Raheja Corp. Rs. 1,500 crore for land

18 Jul 2022 CW Team

Two property parcels totaling 92 acres that belong to real estate developer K Raheja Corp will be purchased by the Adani Group for for Rs 1,500 crore.

Both land parcels will be given to AdaniConneX, a data centre joint venture between Adani Enterprises and the US-based EdgeConneX, a provider of worldwide hyperscale data centres.

The majority of procedures and accompanying paperwork have almost all been completed, and the transactions are likely to be completed within the next several weeks.

Adani Enterprises, the parent company of the Adani Group, and EdgeConneX formed a joint venture in February 2021 to build and run data centres across India. The joint venture's main objective is to establish a nationwide network of hyperscale data centres, beginning with the Chennai, Navi Mumbai, Noida, Vizag, and Hyderabad markets.

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