Adani lines up 9,000 cr for AP

Visakhapatnam: The third iteration of CII’s Partnership Summit in this coastal city kicked off on an auspicious note with Gautam Adani, Chairman of Adani Group, announcing at the inaugural session that his diversified conglomerate would invest a whopping Rs 9,000 crore in Andhra Pradesh over next five years.

Giving a thumbs-up to the investment climate prevailing in Andhra Pradesh, Adani said his group would develop a Greenfield seaport at Bhavanapadu in Srikakulam district. The group’s investments will also go into solar energy, industrial clusters and battery storage facilities. “It’s my promise that we will make Bhavanapadu one of the largest and most sophisticated ports in the country.

We will further expand our presence by investing in multi-modal logistic park. Besides, we will link the sea port to inland water ways and sea ports along the coast,” Adani said at the inaugural session.  Pointing out that AP has emerged as hub for solar energy; he said a 1000-MW solar plant would be set up in the State.