Adani Group plans to invest ₹1 lakh cr in Karnataka over 7 years to expand footprint | Whuff News

Asia’s richest group Gautam Adani will invest approx 1 lakh crore over the next seven years in Karnataka, as it seeks to expand its footprint in various sectors, Gautam Adani’s son and Adani Ports & SEZ Limited CEO Karan Gautam Adani announced on Wednesday.

The Adani Group has invested more than 20,000 crore in Karnataka so far. Speaking on the topic, Karan Gautam Adani said the business group is active in various sectors in the state, ranging from cement, power, city piped gas and edible oil to transport, logistics and digital.

Speaking at the inauguration of the three-day ‘Invest Karnataka 2022’-Global Investors Meet, Adani said, “Karnataka government’s alignment with our country’s vision of becoming the digital hub of the world has resulted in unprecedented growth in the state. IT is worth $65 billion exports, about a third of our country’s total is an undeniable confirmation of the growing growth trajectory of your state and India.”

“When I combine all the sectors that we will invest (in) and we will grow in the state of Karnataka, we will see almost 1 lakh crore investment over the next seven years,” Adani said.

He also said that as the world’s largest solar energy developer, the Adani Group will invest more in the renewable energy sector in Karnataka.

The venture has an installed cement manufacturing capacity of over seven million tonnes across four plants in Karnataka, and it will look to expand its footprint in this sector as well, he said.

The Mangaluru International Airport (owned by Adani Airport Holdings, a subsidiary of the Adani Group), is undergoing renovation and “we will expand that airport as well”, the CEO said. Adani Wilmar is increasing its presence in the Karnataka city of Mangaluru, he said.

Watch all Corporate news and Updates about Live Mint. Download Mint News App to get Daily Market Updates & Live Business News.


Source link