Adani Group makes investment of crores in Tamil Nadu
Adani Group, a diversified conglomerate, committed to make investment of Rs 42,700 crore in Tamil Nadu across multiple sectors on Monday, the second day of the Global Investors Meet 2024. Memorandums of understanding between the Adani Group and the state government were signed at the event’s valedictory session, which was organized by the ruling DMK government. Adani Ports and Special Economic Zone Managing Director Karan Adani, Chief Minister M K Stalin, and Minister for Industries TRB Rajaa were all present.
Total investment of Rs. 42,700 Cr to be made by Adani Group
One of the major projects that the state government has been awarded is the Adani Group’s investments. According to a company statement released by Adani Group, Adani Green Energy Ltd will invest the largest amount of Rs 24,500 crore (of the total investment of Rs 42,700 crore) in three pump storage projects over the course of the next five to seven years.
In addition, the Adani Group’s hyperscale data center provider, Adani ConneX, will contribute Rs 13,200 crore for the construction of a data center, and Ambuja Cements, a subsidiary, has pledged Rs 3,500 crore for the creation of three cement grinding units in the state. According to the statement, Adani Total Gas Ltd would invest Rs 1,568 crore over the following eight years.
Adani praises Tamil Nadu
“Today’s Tamil Nadu is a standout example of stability, a well-established industrial ecosystem, advanced infrastructure, total connectivity, safe and secure neighbourhoods, business-friendly policies…” said Adani.
“His (Stalin’s) 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,” he added.
Also Read: Adani Green Introduces Cashback Redemption Plan For US $750 Million Holdco Bonds
Adani project to create 4,000 jobs in the region
The Adani Group operates in a number of industries in Tamil Nadu, including the production of cement, edible oil, power transmission, city gas distribution, data centers, green energy, and ports and logistics. Currently operating Kattupalli and Ennore Ports near Chennai, the Adani Ports and Special Economic Zone has invested a total of Rs 3,733 crore thus far.
According to the company, Adani Green Energy Ltd. “it is targeting a total capacity of 4,900 MW through facilities in Thenmalai, Alleri, and Aliyar (in Tamil Nadu)” for the three pump storage projects that it would be establishing. The statement also stated that the project aims to create 4,400 jobs in the area.
Tamil Nadu secured Rs 6.64 lakh crore worth of investments committed by various multi-nationals across sectors during the Global Investors Meet 2024. The investments would lead to creation of 26.90 lakh jobs in the state.
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