10,300 Jobs Bloom as Adani Group Sows Rs 42,768 Crore in Tamil Nadu

Adani Group, a versatile conglomerate, has unveiled ambitious plans to invest a substantial sum of Rs 42,768 crore in Tamil Nadu across diverse sectors, including cement manufacturing, data centers, city gas distribution, and renewable energy. This strategic initiative is expected to generate a robust employment opportunity of 10,300 positions.

The announcement was made on January 9, 2024, during the Tamil Nadu Global Investors Meet 2024. Key representatives from Adani Ports and SEZ (APSEZ), along with Chief Minister M.K. Stalin and Minister for Industries T.R.B. Rajaa, participated in the event where a memorandum of understanding (MoU) was exchanged.

The allocated investments by various Adani Group entities are as follows: Adani Green Energy (AGEL) will contribute Rs 24,500 crore, creating 4,000 jobs; Ambuja Cements will invest Rs 3,500 crore, generating 5,000 employment opportunities; Adani Connex is set to infuse Rs 13,200 crore, leading to the creation of 1,000 jobs; and Adani Total Gas & CNG will invest Rs 1,568 crore, generating 300 jobs.

A significant portion of the commitment, amounting to Rs 24,500 crore, will be directed towards three pump storage projects (PSP) by Adani Green Energy (AGEL) over the next five to seven years. Simultaneously, Adani Connex will focus on expanding its digital infrastructure footprint by investing in the development of a hyperscale data center over the next seven years.

Ambuja Cements, within a five-year timeframe, plans to establish three cement grinding units in the state, while Adani Total Gas aims to infuse capital expenditure over eight years, reinforcing the Group's footprint in Tamil Nadu. This comprehensive investment strategy underscores Adani Group's commitment to contributing significantly to the economic development and employment landscape of the region.

News by Rahul Yelligetti