Indian Economy News

Adani Group to increase capex in FY25 to US$ 15.59 billion (Rs. 1.3 lakh crore) from US$ 8.39 billion (Rs. 70,000 crore)

  • IBEF
  • June 26, 2024

Adani Group is set to invest US$ 15.59 billion (Rs. 1.3 lakh crore) across its diverse portfolio of companies this fiscal year, aiming to bolster its ambitious US$ 100 billion investment plan over the next 7-10 years. The majority of this funding, about 70%, will be internally generated, with the remainder financed through debt. Additionally, the group plans to refinance US$ 3-4 billion in maturing debt and secure US$ 1 billion in project financing while attracting US$ 2-2.5 billion annually from new investors.

Group CFO, Mr. Jugeshinder 'Robbie' Singh, highlighted that the focus for the year will be on completing ongoing projects, including Adani Green Energy's 6-7 gigawatts of renewable energy and advancements in solar wafer manufacturing. The Mumbai airport project is also slated for significant progress. The projected capital expenditure for 2024-25 marks a 40% increase from the previous fiscal year, underscoring Adani Group's robust growth trajectory and strategic investments in green initiatives and infrastructure.

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