Adani group will set up two new cement manufacturing plants, 15,000 MW of renewable power projects and a data centre in Andhra Pradesh as it looks to double down on its presence in the state, Karan Adani, founder family’s scion, said on Friday.
The apples-to-airport group plans to double the capacity of the two sea ports it operates at Krishnapatnam and Gangavaram in the state, he said at the Andhra Pradesh Global Investors Summit here but did not give investment numbers.
The investments will be on top of the Rs 20,000 crore already invested in the state, which created more than 18,000 direct and 54,000 indirect jobs.
Adani, who is the CEO of the group’s port company Adani Ports and SEZ Ltd and the son of group founder and chairman Gautam Adani, said the group will set up cement plants with total capacity of 10 million tonnes per annum at Kadappa and Nadikudi in the state as well as a 400 MW data centre in Visakhapatnam.
This is the first public appearance from the Adani family in the country since a damning report by a US short-seller caused a USD 140 billion rout in shares of the group’s listed companies.
Senior Adani was a notable absentee at a similar investor summit organised by the Uttar Pradesh government in Lucknow last month. Gautam Adani had attended the previous UP investor summit.
Karan Adani said currently, Adani Group operates two largest private ports in Andhra Pradesh – Krishnapatnam and Gangavaram, with a total capacity of 100 million tonnes per annum.
“In the next 5 years, not only do we aim to double this capacity, but also transform these ports into industrial port cities,” he said.
“By developing industrial clusters at Krishnapatnam and Gangavaram and attracting industries, we will be able to reduce the logistics costs drastically, thus making these industries far more competitive globally.” The group is also developing 15,000 MW of renewable power projects over the next few years across five districts of Anantapur, Kadappa, Kurnool, Visakhapatnam and Vizianagaram.
“Our other investments in the state include cement manufacturing units and data centres. Presently we do not have any cement manufacturing capacity in Andhra Pradesh. Hence, as part of our expansion plans, we will be setting up cement plants in Kadapa and Nadikudi with a total capacity of 10 million tonnes per annum,” he said.
Also, the group is working on developing a 400 MW of data centre in Visakhapatnam.
“These projects will bring further employment opportunities and demonstrate our commitment to the sustainable growth of the state of Andhra Pradesh,” he said.
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He praised Andhra Pradesh for its “excellent infrastructure, large manufacturing base, talented youth, and business-friendly environment.” With the second longest coastline in India, the state has been recognised by the World Bank as the No.1 implementer of energy efficiency and conservation programmes.
Turning to CSR work being done by Adani Foundation, he said “our footprint in the state of Andhra Pradesh is getting bigger as I speak on this occasion.” “We are investing in education, healthcare, nutrition, access to potable water, sports and building an ecosystem of skilling and sustainable livelihood in the state. Our teams are executing programs in Nellore, Tirupati, and Visakhapatnam districts. At present, we have invested over Rs 4200 crore and are touching over 180,000 lives and counting, in the state,” he added.
Its social intervention and outreach programs across 74 villages include education programs that span across schools, 32 evening education centres with scholarship programs and distribution of education kits.
“We will continue to partner with the government to transform lives & livelihoods in the state. We are honoured to be a part of the sustainable development of the state of Andhra Pradesh,” he added.
(This report has been published as part of the auto-generated syndicate wire feed. No editing has been done in the headline or the body by ABP Live.)