Adani Group commits over Rs 42,700 crore to fuel Tamil Nadu's growth
In a major boost for Tamil Nadu's economic engine, the Adani Group has pledged investments exceeding Rs 42,700 crore across diverse sectors, solidifying its commitment to the state's development.
Chennai: In a major boost for Tamil Nadu's economic engine, the Adani Group has pledged investments exceeding Rs 42,700 crore across diverse sectors, solidifying its commitment to the state's development. This announcement, made during the Tamil Nadu Global Investors Meet 2024, marks a significant step towards propelling the state's industrial landscape to new heights.
Adani Green Energy takes the lead with a colossal Rs 24,500 crore investment earmarked for three pump storage projects (PSPs) to be developed over the next five to seven years. These PSPs, with a targeted capacity of 4,900 MW, will not only bolster Tamil Nadu's clean energy portfolio but also generate over 4,400 jobs.
Recognizing the state's thriving IT industry, Adani Connex is set to establish a hyperscale data center with an investment of Rs 13,200 crore. This facility, expected to be operational within seven years, will significantly enhance Tamil Nadu's digital infrastructure and attract further investments in the IT sector.
Ambuja Cements and ACC join hands to boost the state's cement production capacity. With an investment of Rs 3,500 crore, three new cement grinding units will be established, bringing the total annual capacity to a phenomenal 14 million metric tonnes. This initiative is expected to create over 5,000 direct and indirect jobs.
Adani Total Gas is all set to expand its city gas distribution network in Cuddalore and Tiruppur districts, investing Rs 1,568 crore over the next eight years. Additionally, the company plans to venture into liquefied natural gas (LNG) for mining and trucks, and electric vehicle (EV) charging infrastructure, further diversifying its offerings in Tamil Nadu.
Karan Adani, Managing Director of Adani Ports and Special Economic Zone, lauded Tamil Nadu's conducive business environment, stating, "Today's Tamil Nadu is a standout example of stability, advanced infrastructure, and business-friendly policies." He further commended Chief Minister M.K. Stalin's leadership in making the state a socio-economic powerhouse, attracting major investments like those from the Adani Group.
The Adani Group's commitment to Tamil Nadu extends far beyond these new projects. With existing investments in ports and logistics, edible oil, power transmission, and green energy, the Group has established itself as a key player in the state's economic fabric.
This significant investment by the Adani Group is expected to generate substantial employment opportunities, boost infrastructure development, and propel Tamil Nadu's economic growth in the years to come. The state's focus on renewable energy, digital infrastructure, and sustainable development aligns perfectly with the Adani Group's vision, making this partnership a win-win for all stakeholders.