Adani Group lines up $150 bn investment across businesses

01 Nov 2022 CW Team

The Adani Group, led by Asia’s richest person Gautam Adani, will invest over $150 billion across businesses ranging from green energy to data centres to airports and healthcare as it seeks to join the elite global club of companies with $1 trillion valuations.

In October, Adani Group chief financial officer Jugeshinder ‘Robbie’ Singh detailed the growth plans of the group at an investor meet organised by Ventura Securities Ltd in New Delhi.

The company started off as a trader in 1988, and has since expanded rapidly into ports, airports, roads, power, renewable energy, power transmission, gas distribution and FMCG and more recently into data centres, airports, petrochemicals, cement and media.

The group plans to invest $50-70 billion in the green hydrogen business and another $23 billion in green energy over the next 5-10 years, Singh said. It will invest $7 billion in electricity transmission, $12 billion in transport utility and $5 billion in the road sector.

Its foray into data centre business with cloud services would entail an investment of $6.5 billion in partnership with Edge ConneX and another $9-10 billion is planned for airports, where it is already the largest private operator. Its foray into the cement sector with the acquisition of ACC and Ambuja cement entailed $10 billion investment.

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