Adani Group inks pact with Andhra govt to invest over Rs 90 bn in 5 years

Gautam Adani said Andhra Pradesh is also fast emerging as solar power and battery technology production hub

Adani Group on Saturday signed an agreement with the Andhra Pradesh government to invest over Rs 90 billion in various projects, including the development of a greenfield port at Bhavanapadu, in next five years.

Group Chairman Gautam Adani said that the company would also be investing in a multi-modal logistics park.

He said Andhra Pradesh is also fast emerging as solar power and battery technology production hub.

The group with Indias largest renewable energy company is well positioned to contribute to this sector. We seek to set up one 1000 mw solar and wind facility along with battery storage station in Andhra Pradesh," he said at CIIs Partnership Summit.

Talking about the port, he said as the country's largest port operator, it is my promise to make Bhavanapadu as one of the largest and sophisticated port in the country.

All in all across the different projects, the group would make an investment of over Rs 90 billion in the state over the next five years, he added.