Adani Expands Engineering Portfolio

25 Nov 2024 CW Team

The Adani family, as part of its $100 billion investment vision for 2030, is intensifying efforts to build an in-house construction and engineering ecosystem. Recent acquisitions of ITD Cementation and PSP Projects are key steps in meeting the demands of its large-scale infrastructure projects.

Major Initiatives: Strategic Acquisitions:

ITD Cementation: A 46.64% stake acquired for ?3,204 crore by Dubai-based Renew Exim DMCC. PSP Projects: Expected to contribute to Adani’s ambitious ventures, particularly in infrastructure, defence, and airports. High-Profile Projects:

Dharavi Redevelopment Ganga Expressway Mega Convention Centre, Mumbai Airport Developments Capital Investments: Adani Enterprises is allocating ?67,000 crore for FY24, prioritizing in-house capabilities to ensure project efficiency.

Leadership Insight: Adani CFO Jugeshinder Singh elaborated on the strategy: "Adani Infra is developing its construction ecosystem to support rising capex and ensure reliable construction across group companies."

Expansion Highlights: Orient Cement Acquisition: 47% stake secured by Ambuja Cements for ?8,100 crore. PSP Projects Growth: Order book expansion anticipated from ?6,500 crore, with involvement in industrial projects at Kandla and Dharavi buildings. Conclusion: The Adani family’s acquisitions reflect a focused approach to creating an integrated construction ecosystem, enabling efficient execution of its expansive projects. These moves fortify its position as a leader in infrastructure development while advancing its long-term growth goals

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