Gautam Adani’s investment
Billionaire Gautam Adani’s ports-to-energy conglomerate will invest over Rs 1 lakh crore in sectors like data centers and cement in Andhra Pradesh over the next decade as it plans to consolidate and expand its business in South India. Adani Port and SEZ Managing Director Karan Adani said at the Andhra Pradesh Investor Summit on Friday that this investment will be made in ports, cement, data centres, energy and advanced manufacturing sectors. This is in addition to the Rs 40,000 crore already invested. Karan Adani, eldest son of industrialist Gautam Adani, also unveiled the group’s USD 15 billion Vizag Tech Park vision. This includes building one of the world’s largest green-powered hyperscale data-center ecosystems in partnership with American company Google.
Just a few weeks ago, a partnership was formed with Google to build a large AI data center in the state. Karan Adani said that Adani Group’s trust on Andhra Pradesh is nothing new. We don’t just make promises, we deliver by investing. So far we have invested more than Rs 40,000 crore in the fields of ports, logistics, cement, infrastructure development and renewable energy. And we are not going to stop here.
He said that in the next 10 years we are planning to invest Rs 1 lakh crore more in ports, cement, data centres, energy and modern construction. Karan said that the group considers Andhra Pradesh not just as an investment destination but as the beginning step of India’s transformation in the next 10 years.
He told that in Vizag Tech Park, Adani and Google will together create the world’s largest hyperscale data center system running on green energy. Google and Adani will invest $15 billion in the next five years to build a data center complex in Visakhapatnam. This is Google’s largest investment in the AI field outside America. This will include a purpose-built, very large capacity data center complex. He said that this joint plan of 15 billion dollars fulfills the goal of sustainable development and high-tech progress.
Will invest in Assam also
Adani Group is going to invest about Rs 63,000 crore to set up two big power projects in Assam. These include the Northeast’s largest coal-based private power plant and a new pumped-storage hydro power project. The group said that its energy companies have received Project Allocation Letter (LOA) from the state government for both these projects. Adani Power Limited will build a modern thermal power plant with a capacity of 3,200 MW at a cost of about Rs 48,000 crore. The project will be developed on the design, build, finance, own and operate (DBFOO) model.