Adani Group to invest Rs 12,000 crore in Chennai

The Adani Group will be signing a memorandum of understanding (MoU) to invest Rs. 12,000 crore in Tamil Nadu across various projects, including logistics, industrial park city gas distribution, Adani Ports Chief Executive Officer (CEO) Karan Adani said on Wednesday.

“The Adani Group has launched an expansion of port facility (at Kattupalli) and we are expanding into logistics, information and communication technology. We are committed to do investment to the tune of  Rs 12,000 crore in the state,” he said while speaking at the second edition of the Tamil Nadu Global Investors Meet, which was inaugurated here by Chief Minister Edappadi K. Palaniswami.

Adani Ports has entered Tamil Nadu through an investment into the Ennore Container terminal. Since the acquisition of Kattupalli port three years ago, Adani Ports has managed to increase cargo handling at the port by 200 per cent.

Contending that Tamil Nadu is worthy to be emulated by other states in the country, Mr Karan said the state is one of the most progressive states in India. “The distribution of state’s economic sectors with service contributing 45 per cent, followed by manufacturing at 34 and agriculture at 21 per cent is a textbook definition of what a balanced economy should be viewed at,” he said.

On Kattupalli port, he said, since the acquisition of the port three years ago, it has seen an increase in cargo handling of over 200 per cent. “We expect to be able to make this port one of the largest in the country with a capacity to handle over 300 million metric tons of cargo and make this a key enabler to support the growth ambition of Tami Nadu,” Karan emphasised.

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