Adani group to invest $150bn, focus on green

Wednesday 02nd November 2022 06:43 EDT

The Adani Group will invest over $150 billion across businesses ranging from green energy to data centres to airports and healthcare as it chases the dream to join the elite global club of companies with $1-trillion valuations. On October 10, Adani Group CFO Jugeshinder ‘Robbie’ Singh detailed the growth plans of the group, which started off as a trader in 1988 and expanded rapidly.

The group plans to invest $50-70 billion in green hydrogen business and another $23 billion in green energy over the next 5-10 years, he 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 entailed $10-billion investment. It is foraying into the petrochemicals with plans to set up a 1-million tonnes per annum PVC facility at an investment of $2 billion and would enter the copper sector with a 0. 5-million tonnes a year smelter with $ 1 billion, he said.

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