Gautam Adani-led Adani Group to invest Rs 42,700 crore in Tamil Nadu
Gautam Adani-led Adani Group to invest Rs 42,700 crore in Tamil Nadu
The Adani Group, led by Chairman Gautam Adani, announced that it would invest over Rs 42,700 crore in Tamil Nadu through its various group companies. The group signed various memorandums of understanding (MoUs) at the Tamil Nadu Global Investors Meet 2024.
Adani Green Energy stated that it would invest Rs 24,500 crore – the biggest investment among the group companies – in three pump storage projects in the next 5-7 years. Adani Connex will invest Rs 13,200 crore in a hyperscale data centre over the next 7 years, while Ambuja Cements will invest Rs 3,500 crore in three cement grinding units. Adani Total Gas will invest Rs 1,568 crore in the state in the next 8 years.
The MoUs were signed in the presence of Tamil Nadu CM MK Stalin, state industries minister TRB Rajaa, and Adani Ports and Special Economic Zone MD, Karan Adani, along with other cabinet ministers and secretaries.
Karan Adani called Tamil Nadu a standout example of “stability, a well-established industrial ecosystem, advanced infrastructure, total connectivity, safe and secure neighbourhoods”. He said the state boasts a diverse and highly-skilled workforce with more women in the ranks than anywhere else in the country.
Adani Ports & SEZ currently operates the Kattupalli and Ennore ports and so far has invested Rs 3,733 crore in Tiruvallur district. Adani Green Energy will diversify its presence by investing in PSP plants, hydroelectric energy storage systems that use the force of gravity to generate electricity. The company will invest Rs 25,000 crore for the clean energy project that would create over 4,400 job opportunities.
The Adani-EdgeConnex data centre, powered by renewable energy, is a network neutral facility. It has a capacity of 33 MW, which will now be raised to 200 MW with an investment of Rs 13,200 crore.
Ambuja Cements and ACC that had invested Rs 550 crore to build an annual capacity of 1 million tonnes in the city will ramp it up to 14 million metric tonnes with an investment of Rs 3,500 crore. It will set up three plants, including one in Madukkara 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.
Adani Total Gas serves over 5,000 homes in Cuddalore and Tiruppur districts with piped gas with 100 km of pipelines and an investment of Rs 180 crore. The company aims to increase its investment in Tamil Nadu nine-fold to expand its offerings in city gas distribution, liquefied natural gas, and electric vehicles.
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