An Indian multinational conglomerate, Adani Group has announced that it plans to invest almost Rs. 1 lakh crore over next seven years in Karnataka.
Adani said, “Karnataka government’s alignment with our nation’s vision to become the world’s digital hub has produced unprecedented growth in the state.”
“$65 billion worth of IT exports, around a third of our nation’s total is undeniable validation of your state’s and India’s rising growth trajectory”, Adani said.
“When I combine all of the sectors that we will be investing (in) and we will be expanding in the state of Karnataka, we would be looking at almost Rs. 1 lakh crore of investment in the next seven years,” Adani said.
Mangaluru International Airport is undergoing a facelift and “we will be expanding that airport as well”, the CEO said. The Mangaluru International Airport is owned by Adani Airport Holdings, a subsidiary of Adani Group.
“Adani Wilmar is increasing its presence in the coastal Karnataka town of Mangaluru”, he added.
The information was shared while speaking at the inaugural function of ‘Invest Karnataka 2022’-Global Investors Meet. As per the CEO of Adani Ports & SEZ Limited CEO Karan Gautam, Adani group will be expanding its footprint in multiple sectors in the coming years.
Recently, Adani Family, through Endeavour Trade and Investment Ltd (“BidCo”), a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations.
The Group has an installed cement manufacturing capacity of over seven million tonnes across four plants in Karnataka, and it will be looking at expanding its footprint in this sector as well. Further, the Group will also be investing more in the renewable energy sector in Karnataka.