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Tuesday, February 27, 2024

Adani Group Commits ₹42,700 Crore Investment in Tamil Nadu, Unveils Diverse Projects

The Adani Group has inked memorandums of understanding (MoUs) for a substantial investment of over ₹42,700 crore in Tamil Nadu during the Global Investors Meet 2024. The largest chunk of this investment, amounting to ₹24,500 crore, will be spearheaded by Adani Green Energy Ltd, dedicated to three pump storage projects (PSP) over the next 5-7 years. The signing ceremony included the presence of Tamil Nadu Chief Minister MK Stalin, State Industries Minister TRB Rajaa, and Karan Adani, the Managing Director of Adani Ports and Special Economic Zone, along with Cabinet Ministers and Secretaries from various government departments.

Adani Connex, a subsidiary of the Adani Group, is set to invest ₹13,200 crore in a hyperscale data centre over the next seven years. Another significant investment comes from Ambuja Cements, committing ₹3,500 crore to establish three cement grinding units within the next five years. Additionally, Adani Total Gas Ltd plans to invest ₹1,568 crore over eight years.

Karan Adani emphasized the favorable business environment in Tamil Nadu, praising its stability, advanced infrastructure, connectivity, and business-friendly policies. He acknowledged Chief Minister MK Stalin’s efforts to make Tamil Nadu a socio-economic powerhouse, expressing gratitude for the opportunity to contribute to the state’s growth.

Adani Green Energy’s investment in pump storage projects aims to achieve a total capacity of 4,900 MW through facilities in Thenmalai, Alleri, and Aliyar, creating over 4,400 job opportunities. The Adani-EdgeConnex data centre, currently operating in Chennai, will witness an expansion to a 200 MW capacity with a ₹13,200 crore investment, making it one of India’s largest single-location investments in digital infrastructure.

Ambuja Cements and ACC will raise their annual cement production capacity from 1 million tonnes to 14 million metric tonnes with a ₹3,500 crore investment, generating over 5,000 direct and indirect employment opportunities in Madukkarai, Kattupalli, and Tuticorin.

Adani Total Gas plans to significantly scale up its investment in Tamil Nadu, expanding in city gas distribution, liquefied natural gas for mining and trucks, and electric vehicles, aiming to serve the growing needs of Cuddalore and Tiruppur districts.

The Adani Group’s multifaceted presence in Tamil Nadu spans various sectors, including ports, logistics, edible oil, power transmission, city gas distribution, data centers, green energy, and cement manufacturing.

For more updates stay tuned to FELA News!

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