Adani leads the way with ₹12,000-cr investment in TN
The Adani Group took the lead in committing a whopping ₹12,000 crore investment during the Investors' Summit in Tamil Nadu. CEO, Adani Ports and Special Economic Zone, Karan Adani, said that the Adani Group plans investment across sectors; it will invest around ₹10,000 crore in ports and port-led industries, including expansion of the Katupalli Port in Ennore, and in industrial parks and defence, and ₹2,000 crore on pipelines for gas distribution. The company expects to make Katupalli port one of the largest in the country with a capacity to handle over 300 million tons of cargo, and support the growth ambition of Tamil Nadu. The state also plays a key part in Adani's renewable growth story as its major foray in renewable energy started with the construction of the world's largest solar farm of 640 MW capacity at Kamuthi in Ramanathapuram district at a cost of ₹4,550 crore. The Indian Oil Corporation also announced investment of ₹16,641 crore across various projects in Tamil Nadu, which will open up huge job generation avenues as the company proposed investments include expansion of retail outlets, upgrading and capacity expansion of its facilities, and building two new gas distribution projects.
📅Published on:
25 January 2019
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