Adani Group signs pact for Rs 42,700 crore investment in Tamil Nadu – EQ
In Short : The Adani Group has entered into an agreement for a substantial investment of Rs 42,700 crore in Tamil Nadu. This significant commitment underscores the group’s dedication to contributing to the state’s economic development and infrastructure growth, potentially spanning various sectors such as energy, logistics, and manufacturing.
In Detail : The Adani Group’s presence in Tamil Nadu spans ports and logistics, edible oil, power transmission, city gas distribution, data centers, green energy, and cement manufacturing.
The Adani Group has inked Memorandums of Understanding (MoUs) with Tamil Nadu for investments exceeding Rs 42,700 crore at the Global Investors Meet 2024.
The largest chunk, Rs 24,500 crore, will be infused by Adani Green Energy Ltd into three pump storage projects (PSP) over the next 5-7 years.
Present at the MoU signing were Tamil Nadu Chief Minister MK Stalin, State Industries Minister TRB Rajaa, and Karan Adani, the Managing Director of Adani Ports and Special Economic Zone. Cabinet ministers and secretaries from various government departments were also in attendance.
Adani Connex is set to invest Rs 13,200 crore in a hyperscale data centre over the next seven years, while Ambuja Cements will contribute Rs 3,500 crore to establish three cement grinding units in the next five years. Adani Total Gas Ltd plans to invest Rs 1,568 crore over eight years.
Karan Adani praised Tamil Nadu’s stability, established industrial ecosystem, advanced infrastructure, connectivity, and business-friendly policies. Referring to Chief Minister MK Stalin, Adani acknowledged his efforts to make Tamil Nadu a socio-economic powerhouse.
“Today’s Tamil Nadu is a standout example of stability, a well-established industrial ecosystem, advanced infrastructure, total connectivity, safe and secure neighbourhoods, business-friendly policies with an able and efficient team of officers, and a diverse and highly-skilled workforce with more women in the ranks than anywhere else in the country!” Karan Adani said.
The Adani Group’s presence in Tamil Nadu spans ports and logistics, edible oil, power transmission, city gas distribution, data centers, green energy, and cement manufacturing.
Adani Ports and Special Economic Zone, the integrated ports and logistics company, has invested Rs 3,733 crore in Tiruvallur district, operating the Kattupalli and Ennore Ports catering to the Chennai and Sri City regions. Meanwhile, Adani Green Energy’s investment will focus on PSP plants and hydroelectric energy storage systems, targeting a total capacity of 4,900 MW. This clean energy initiative is expected to create over 4,400 job opportunities.
The Group’s data center in Chennai, the Adani-EdgeConnex, currently with a 33 MW capacity, will be expanded to a 200 MW data center with a Rs 13,200 crore investment. Powered by renewable energy, it is set to become one of India’s largest single-location investments in digital infrastructure.
