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Adani Group plans to invest Rs 42,768 cr in Tamil Nadu across sectors

Tuesday, 09 Jan 2024
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Diversified conglomerate Adani Group has decided to invest Rs 42,768 crore in Tamil Nadu in cement manufacturing, data centre, city gas distribution, and renewable energy, creating 10,300 employment opportunities.

On 09 January, 2024, the Group announced this decision during the Tamil Nadu Global Investors Meet 2024. A memorandum of understanding (MoU) was also exchanged at the investors' meeting by key representatives of Adani Ports and SEZ (APSEZ), Chief Minister M.K. Stalin, and Minister for Industries T.R.B. Rajaa.

The investments by different Adani Group companies includes Adani Green Energy (AGEL) with Rs 24,500 crore (employment 4,000), Ambuja Cements Rs 3,500 crore (5,000), Adani Connex Rs 13,200 crore (1,000) and Adani Total Gas & CNG Rs 1,568 crore (300).

The Group's largest commitment, amounting to Rs 24,500 crore, is set to be channelled into three pump storage projects (PSP) by Adani Green Energy (AGEL) over the next five to seven years. In a significant move to expand its digital infrastructure footprint, Adani Connex will invest in developing a hyperscale data centre over the next seven years.

Meanwhile, Ambuja Cements plans to establish three cement grinding units in the state within five years. Adani Total Gas also announced to infuse capex over eight years, further solidifying the Group's presence in the state.

 
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