Infrastructure

Bold Bet: Adani Group To Boost Capex To $15.6 Billion In 2025

Swarajya Staff

Jun 25, 2024, 05:21 PM | Updated 05:30 PM IST

Adani Group. (Representative image).
Adani Group. (Representative image).

The Adani Group, a conglomerate spanning ports and power, plans to increase its capital expenditures to 1.3 trillion rupees ($15.6 billion) in fiscal year 2025, up from 700 billion rupees the previous year, according to chief financial officer Jugeshinder Singh.

Adani Green Energy, the renewable energy division of the group, will allocate Rs 340 billion to expand its capacity by 6 gigawatts, Singh announced during a media briefing in Ahmedabad, Gujarat.

The comments came a day after billionaire owner Gautam Adani told investors the group is "well positioned" to capitalise on opportunities in the country's booming infrastructure sector.

"And, as we make our way towards becoming a 10 trillion-dollar economy by 2032, our spend on infrastructure is expected to grow at a CAGR of 20- 25 per cent and reach a cumulative spend of $2.5 trillion. Given that, at the very core, we are an infrastructure company, we are well positioned to capitalise on the upcoming opportunities," Gautam Adani said at the 32nd annual general meeting of the conglomerate on 24 June.

Gautam Adani also stressed on the role of state governments in implementing the initiatives related to infrastructure development.

"What is even more relevant is that, while the national narrative sets the stage for infrastructure spend, large parts of the funding and action are at the state level. In our case, with our operations spread across 24 Indian states, we are firsthand witnesses to the critical role state governments play in implementing the initiatives," he added.


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