AP Global Investors Summit: Adani Group to set up 2 cement plants, data centre

Adani Group will set up two new cement manufacturing plants, 15,000 MW of renewable power projects, and a data centre in Andhra Pradesh as it looks to double down on its presence in the state, Karan Adani, founder family's scion said on Friday. 

Addressing the Andhra Pradesh Global Investors Summit here, he said the apples-to-airport group plans to double the capacity of the two seaports it operated at Krishnapatnam and Gangavaram in the state. 

The investments will be on top of the ₹20,000 crore already invested in the state, which created more than 18,000 direct and 54,000 indirect jobs, according to the news agency ANI. 

He added that the group will set up cement plants with a total capacity of 10 million tonnes per annum at Kadappa and Nadikudi in the state as well as a 400 MW data centre in Visakhapatnam. 

Notably, this is the first public appearance from the Adani family in the country since a damning report by a US short-seller caused a USD 140 billion rout in shares of the group's listed companies. 

Senior Adani was a notable absentee at a similar investor summit organized by the Uttar Pradesh government in Lucknow last month. Gautam Adani had attended the previous UP investor summit.

Karan Adani said currently, Adani Group operates the two largest private ports in Andhra Pradesh - Krishnapatnam and Gangavaram, with a total capacity of 100 million tonnes per annum, ANI reported. 

“In the next 5 years, not only do we aim to double this capacity, but also transform these ports into industrial port cities. By developing industrial clusters at Krishnapatnam and Gangavaram and attracting industries, we will be able to reduce the logistics costs drastically, thus making these industries far more competitive globally,” he said. 

The group is also developing 15,000 MW of renewable power projects over the next few years across five districts of Anantapur, Kadappa, Kurnool, Visakhapatnam, and Vizianagaram.

In addition, the group is also working on developing a 400 MW of data centre in Visakhapatnam. “These projects will bring further employment opportunities and demonstrate our commitment to the sustainable growth of the state of Andhra Pradesh.”

The group is also investing in education, healthcare, nutrition, access to potable water, sports, and building an ecosystem of skilling and sustainable livelihood in the state, he said, adding that the teams are executing programs in Nellore, Tirupati, and Visakhapatnam districts. At present, we have invested over ₹4200 crore and are touching over 180,000 lives and counting, in the state. 

Its social intervention and outreach programs across 74 villages include education programs that span across schools, 32 evening education centres with scholarship programs, and the distribution of education kits.

"We will continue to partner with the government to transform lives & livelihoods in the state. We are honored to be a part of the sustainable development of the state of Andhra Pradesh," he added.

(With ANI inputs)