- Adani Group to invest over $100 billion in the next decade
- Adani Group market cap stands at 260 billion dollars – having grown faster than any company ever in India.
NE BUSINESS BUREAU
AHMEDABAD, SEP 28
Asserting that India is full of incredible opportunities. The real India growth story is just starting. This is the best window for companies to embrace India’s economic resurgence and the incredible multi-decade tail wind the world’s largest and most youthful democracy offers. India’s next three decades will be the most defining years for the impact it will have on the world, Adani Group announced that it will invest more than $100 billion over the next decade, most of it in the energy transition business.
.@gautam_adani, Chairman of the Adani Group, made a strong pitch for India in his Keynote Address at the 20th Forbes Global CEO Conference in Singapore. Over 400 prominent global business and thought leaders are attending the two-day conference. https://t.co/0jDDHRCxXl
— Adani Group (@AdaniOnline) September 27, 2022
Gautam Adani, the world’s second-richest person, told the Forbes Global CEO Conference in Singapore on Tuesday as the ports-to-energy conglomerate accelerates an already aggressive expansion plan.
After founding the group in 1988 as a commodities trading business, Adani has ventured into multiple sectors, mainly in the infrastructure space and in line with the priorities of the government of Prime Minister Narendra Modi.
“As a group, we will invest over $100 billion of capital in the next decade,” Adani, the world’s second-richest person, told the Forbes Global CEO Conference in Singapore.
“We have earmarked 70 percent of this investment for the energy transition space. We are already the world’s largest solar player, and we intend to do far more.”
He did not say how the investments would be financed. Debt research firm CreditSights said earlier this month it was concerned about the group’s leverage, though the group said its ratios were healthy and in line with industry benchmarks.
Adani has a personal fortune of $143 billion, according to Forbes, behind only Elon Musk.
The combined market capitalisation of the group’s listed companies is $260 billion, growing exponentially in recent years.
Adani Group has announced deals worth billions of dollars this year alone, the biggest one being its $10.5 billion acquisition of Holcim AG’s cement businesses in India — Ambuja Cements Ltd and ACC Ltd.
Gautam Adani said the group wanted to be an inexpensive producer of green hydrogen, which is extracted from water using electrolysis in a process powered by renewable energy.
He said the group was in the process of building a 10 gigawatt (GW) silicon-based photo-voltaic chain, a 10 GW wind-turbine manufacturing facility and a 5 GW hydrogen electrolyser factory.
“It is an absolute game changer for India and opens up the unprecedented possibility that India could one day become a net energy exporter,” he said.
India is currently the world’s third-largest crude importer and consumer.
Adani said his group was India’s largest airport operator with 25 percent of passenger traffic and 40 per cent of air cargo.
It is also the largest ports and logistics company in India with a 30 percent market share.
(Ad)Vantages of Adani
- We are the largest airport operator in the nation with 25% of passenger traffic and 40% of air cargo.
- We are the largest Ports and Logistics company in India with 30% national market share.
- We are India’s largest integrated energy player spanning electricity generation, transmission, and distribution, LNG and LPG terminals, city gas and piped gas distribution.
- We are the highest valued FMCG company following the IPO of Adani Wilmar.
- We have declared our path forward in new sectors that include data centers, super apps, industrial clouds, aerospace and defense, metals, and petrochemicals.
- We are the country’s second largest cement manufacturer.
