Sat, Sep

Adani Group to invest over Rs 9K cr in AP projects

From The Web - India

Adani Group today signed an agreement with the Andhra Pradesh government to invest over Rs 9,000...


Adani Group today signed an agreement with the Andhra Pradesh government to invest over Rs 9,000 crore in various projects, including development of a greenfield port at Bhavanapadu, in next five years.

Group Chairman Gautam Adani said that the company would also be investing in a multi-modal logistics park.

He said Andhra Pradesh is also fast emerging as solar power and battery technology production hub.

The group with India’s largest renewable energy company is well positioned to contribute to this sector. “We seek to set up one 1000 mw solar and wind facility along with battery storage station” in Andhra Pradesh," he said at CII’s Partnership Summit.

Talking about the port, he said as the country's largest port operator, it is “my promise” to make Bhavanapadu as one of the largest and sophisticated port in the country.

All in all across the different projects, the group would make an investment of “over 9000 crore in the state over the next five years,” he added.

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