financetom
Business
financetom
/
Business
/
Adani Group to invest Rs 1 lakh crore in Karnataka over 7 years
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Adani Group to invest Rs 1 lakh crore in Karnataka over 7 years
Nov 2, 2022 10:08 AM

The Adani Group has plans to invest almost Rs 1 lakh crore over the next seven years in Karnataka as it seeks to expand its footprint in multiple sectors, Adani Ports and SEZ Limited CEO Karan Gautam Adani said on Wednesday.

Share Market Live

NSE

He said having already invested over Rs 20,000 crore in Karnataka till now, the business group is active in multiple sectors in the state, ranging from cement, power, city piped gas and edible oil to transport, logistics and digital.

Adani was speaking at the inaugural function of the three-day 'Invest Karnataka 2022'-Global Investors Meet.

Also Read: PNB revises NPA guidance as slippage less than recovery number in September quarter

"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.

"As the world's largest solar power developer, Adani Group will be investing more in the renewable energy sector in Karnataka," he said.

The company has an installed cement manufacturing capacity of more than seven million tonnes across four plants in Karnataka, and it will be looking at expanding its footprint in this sector as well, according to him.

Alsoc Read: BYJU’S won’t shut down Kerala office and will retain 140 laid-off employees

Mangaluru International Airport (owned by Adani Airport Holdings, a subsidiary of Adani Group), is undergoing a facelift and "we will be expanding that airport as well", the CEO said.

Adani Wilmar is increasing its presence in the coastal Karnataka town of Mangaluru, he added.

Also Read: Why Tech Mahindra growth trailed its peers in July-September

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved