Adani Group to invest Rs 1 lakh crore in Karnataka over 7 years

PTI, Nov 2, 2022, 4:41 PM IST

Bengaluru: The Adani Group has plans to invest almost Rs 1 lakh crore over the next seven years in Karnataka as it seeks to expand its footprint in multiple sectors, Adani Ports and SEZ Limited CEO Karan Gautam Adani said on Wednesday.

He said having already invested over Rs 20,000 crore in Karnataka till now, the business group is active in multiple sectors in the state, ranging from cement, power, city piped gas and edible oil to transport, logistics and digital.

Adani was speaking at the inaugural function of the three-day ‘Invest Karnataka 2022’-Global Investors Meet.

”When I combine all of the sectors that we will be investing (in) and we will be expanding in the state of Karnataka, we would be looking at almost Rs 1 lakh crore of investment in the next seven years,” Adani said.

”As the world’s largest solar power developer, Adani Group will be investing more in the renewable energy sector in Karnataka,” he said.

The company has an installed cement manufacturing capacity of more than seven million tonne across four plants in Karnataka, and it will be looking at expanding its footprint in this sector as well, according to him.

Mangaluru International Airport (owned by Adani Airport Holdings, a subsidiary of Adani Group), is undergoing a facelift and ”we will be expanding that airport as well”, the CEO said.

Adani Wilmar is increasing its presence in the coastal Karnataka town of Mangaluru, he added.