Adani to pump Rs 12k crore into various TN projects

Adani Group on Wednesday said that it will invest Rs 12,000 crore in Tamil Nadu to expand its presence further.

Speaking at the second edition of the Tamil Nadu Global Investors Meet (GIM 2019), which was kick-started here on Wednesday, Adani Ports’ chief executive officer Karan Adani said the investment would be spread across various projects, including logistics, industrial park and city gas distribution.

The group will sign a memorandum of understanding (MoU) with the Tamil Nadu government on Thursday, the concluding day of the GIM.

Terming Tamil Nadu as one of the most progressive states in India, he said the Adani Group’s business ties with Tamil Nadu was established some seven years ago, when the conglomerate made its first investment in the state by setting up a container terminal at Ennore port.

The group, three years ago, acquired Kattupalli Port, and is currently planning to make it one of the largest ports in the country with next phase of expansion plan being implemented.

“After we acquired the port, it has seen significant growth of 200% in cargo handling in the last three years. We are going to make the port as country’s major port which would provide impetus to Tamil Nadu’s growth,” he said.