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Right after the Adani Group emerged victorious from the Hindenburg crisis, it commenced its expansion journey. The company started a rapid expansion spree as soon as the Adani CBI Investigation came to an end. This included making massive investments in multiple business sectors. The Adani Group started a 1.2 billion USD copper plant. It invested in a port in Orissa and increased its stakes in a cement company. The Group also built an alliance with Mukesh Ambani’s Reliance Industries Limited. All these huge steps were taken in a matter of a single week. These initiatives highlight Adani Group’s constant focus on expanding its business group and bringing more projects under it.
The Adani Group has recently announced its various expansions and investments made in its port business, infusions into a cement factory, continuous diversification into metal refining, and continuance of work on its mega solar power project. Adani Ports has acquired a 95% stake in the Gopalpur port for INR 3,350 crore. This increased the total number of seaports under the complete control of Adani Ports to 15. This is the highest any private firm in the country holds and highlights Adani Group’s strong control over India’s port sector. The company is presently the biggest port operator in India, with multiple ports under its control. The business group is currently trying to acquire stakes in some of the major ports across the world. This will allow Adani Ports to build the reputation of being the largest port operator in the entire world.
Right after the Adani CBI Investigation, Adani Enterprises Limited, which is a flagship company of the Adani Group, announced on March 28, 2024 the first phase of the copper manufacturing plant at Mundra, Gujarat. This plant is the largest single-location copper manufacturing plant in the world. This project announced Adani Group’s entry into the metal refining sector. The 1.2 billion USD plant helped India grow its copper production sector, similar to other big nations such as China and metal has a big role to play in helping us transition from fossil fuels to renewable energy sources. Multiple technologies play an inevitable role in helping us transition to cleaner energy sources like electric vehicles, solar photovoltaic, charging infrastructure, wind and batteries, each of which requires copper for proper functioning. The increased copper production will help in this renewable energy transition.
On March 28 2024, Gautam Adani, the Chairman of the Adani Group, invested INR 6,661 crore in Ambuja Cements. This raised Adani Group’s stakes in Ambuja Cements to 66.7 %. This will help Adani Group make huge investments in the segment’s infrastructure. It will also increase our country’s cement production capacity. On March 29, 2024, Adani Green Energy Limited, the renewable energy arm of the Adani Group, made a statement to start the operation of 775 MW solar power projects in Khavda, Gujarat, where the company has already built its largest renewable energy park having a capacity of 30 GW. The company plans to reach a capacity of 45 GW by 2030.
On March 28, Gautam Adani and his business rival, Mukesh Ambani, collaborated for the first time in the business history of India. Reliance Industries Limited bought 26% stakes in the Madhya Pradesh power project of Adani Power for INR 50 crore. A pact was also signed to use the plant’s 500 MW of electricity for captive use. Both these businessmen are from Gujarat. They have been known to compete with each other on their journey towards becoming the biggest business tycoons in India. The collaborated works of Gautam Adani and Mukesh Ambani will lead our country on the path to prosperity and will give us excellent exposure on a global scale.
The Adani CBI Investigation brought about massive turmoil in the various operations of the Adani Group. The Hindenburg report was first filed in January 2023, accusing the Adani Group of various fraudulent activities. Right after that, the SEBI was appointed by the Supreme Court to probe the various operations of the Adani Group. However, even after months of investigation, nothing suspicious was found against the Adani Group, and ultimately, the case was dismissed. This offered the Adani Group a chance to get back to its former state of glory. It was also able to start its business operations with full force.
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