Adani Group To Invest Rs 42,700 Cr In TN

Ports-to-power conglomerate Adani Group on Monday signed memorandums of understanding (MoU) for investment of over Rs 42,700 crore at the Tamil Nadu Global Investors Meet 2024.

According to an official press release, “The biggest investment of Rs 24,500 crore will be made by Adani Green Energy Ltd in three pump storage projects (PSP) in the next 5-7 years.”

“Adani Connex will invest Rs 13,200 crore in a hyperscale data centre over the coming seven years, while Ambuja Cements will invest Rs 3,500 crore in three cement grinding units in the next five years. Adani Total Gas Ltd will invest Rs 1,568 crore in eight years,” it said.

Tamil Nadu Chief Minister M.K. Stalin, State Industries Minister T.R.B. Rajaa and the Managing Director of Adani Ports and Special Economic Zone Karan Adani were present at the signing of the MoUs, along with Cabinet Ministers and Secretaries of various government departments.

On the signing of the MoUs, Karan Adani said, “Today’s Tamil Nadu is a standout example of stability, a well-established industrial ecosystem, advanced infrastructure, total connectivity, safe and secure neighbourhoods, and business-friendly policies with an able and efficient team of officers, and a diverse and highly skilled workforce with more women in the ranks than anywhere else in the country!”

Referring to Tamil Nadu Chief Minister M.K. Stalin, Karan Adani said, “His drive to make Tamil Nadu a socio-economic powerhouse has pulled a growing number of business houses to invest in this state – and the Adani Group is privileged to be one of them.”

The Adani Group’s presence in Tamil Nadu spans a number of rapidly accelerating sectors, including ports and logistics, edible oil, power transmission, city gas distribution, data centres, green energy, and cement manufacturing.

As per the release, Adani Ports and Special Economic Zone, its integrated ports and logistics company, is currently operating the Kattupalli and Ennore Ports – and, so far, have invested a total of Rs 3,733 crore in Tiruvallur district.

The two ports collectively cater to the hinterland in the Chennai and Sri City regions and are well-positioned to meet the existing requirements of the region.

Adani Green Energy Ltd will diversify its presence in Tamil Nadu by investing in PSP plants, and hydroelectric energy storage systems that use the force of gravity to generate electricity.

It is targeting a total capacity of 4,900 MW through facilities in Thenmalai, Alleri and Aliyar.

For this clean energy project that will create over 4,400 job opportunities, the Adani group will invest around Rs 25,000 crore.

The Group operates Chennai’s most advanced data centre, located near the SIPCOT IT park, to meet the data requirements of the state’s well-established IT industry.

With 33 MW capacity, the Adani-EdgeConnex data centre is a network-neutral facility, powered by renewable energy.

It will now be raised to a 200 MW data centre with an investment of Rs 13,200 crore, which will be one of India’s largest single-location investments in digital infrastructure.

Ambuja Cements and ACC had invested Rs 550 crore to build an annual capacity of 1 million tonnes in the state. This is going to be ramped up to a phenomenal 14 million metric tonnes with an investment of Rs 3,500 crore to set up three plants – one in Madukkarai with a capacity of 2 million tonnes, and two each with a capacity of 6 million tonnes in Kattupalli and Tuticorin.

The plants will create over 5,000 direct and indirect employment opportunities in their neighbourhoods. The Group also meets the city gas distribution requirements of Cuddalore and Tiruppur districts through Adani Total Gas.

It currently serves over 5,000 homes with piped gas, having laid over 100 km of pipelines with an investment of Rs 180 crore. Adani Total Gas will scale up its investment in Tamil Nadu more than nine-fold to expand its offerings in city gas distribution, liquefied natural gas for mining and trucks, and electric vehicles.

About the Adani Portfolio of Companies Headquartered in Ahmedabad, the Adani Portfolio is the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, logistics, shipping and rail), Resources, Power Generation and Distribution, Renewable Energy, Gas and Infrastructure, Agro (commodities, edible oil, food products, cold storage and grain silos), Real Estate, Public Transport Infrastructure, Consumer Finance and Defence, and other sectors. Adani owes its success and leadership position to its core philosophy of ‘Nation Building’ and ‘Growth with Goodness’ – a guiding principle for sustainable growth.

The Group is committed to protecting the environment and improving communities through its CSR programmes based on the principles of sustainability, diversity and shared values. (ANI)

For more details visit us: https://lokmarg.com/