Adani Group to invest $150 billion to achieve a $1,000 billion valuation
The Adani Group of Asia's richest man Gautam Adani will invest more than $150 billion in sectors ranging from green energy, data centers, and airports to healthcare. The group aims to be included in the elite list of global companies with a valuation of $1,000 billion. Adani Group's Chief Financial Officer (CFO) Jugeshinder 'Robby' Singh on 10 October announced that Ventura Securities Ltd. He gave details of the development plans of the group in the investor meeting organized here.
Commencing business as a trader in the year 1988, the group has rapidly expanded its footprint in the Ports, Airports, Roads, Power, Renewable Energy, Power Transmission, Gas Distribution, and FMG sectors. In recent times, the group has forayed into areas such as data centers, airports, petrochemicals, cement, and media. He said the group plans to invest $50-70 billion in green hydrogen business and $23 billion in green energy over the next 5-10 years.
It will invest $7 billion in power transmission, $12 billion in 'transport utilities', and $5 billion in the road sector. The group's entry into the data center business with cloud services will require an investment of $6.5 billion in partnership with Edge Connex, and $9-10 billion is planned for airports. The group is already the largest private operator in the airport sector. With the acquisition of ACC and Ambuja Cement, the group has invested $10 billion to enter the cement sector.
The group has also ventured into the petrochemicals business. It plans to set up a one million tonne per annum PVC manufacturing plant with an investment of $2 billion. He said the Adani Group would set up a five lakh tonne per annum smelter with an investment of $1 billion and with it would foray into the copper sector. He said that under the entry into the healthcare sector, there will be an investment of 7-10 billion dollars in insurance, hospital, diagnostics, and pharma. Some of this amount will come from Adani Foundation. The group's market capitalization in 2015 was $16 billion. In seven years by 2022, it has grown 16 times to reach $260 billion.