Adani Group will spend ₹7 lakh crore on infrastructure projects

Adani Group will spend $84 billion i.e. about ₹7 lakh crore on infrastructure projects in the next 10 years. Group Chief Financial Officer (CFO) Jugeshinder Singh has given this information.

Singh said, 'We have the capacity to invest up to Rs 20 lakh crore, but due to lack of good vendors, there is difficulty in making such a big investment.'

He said that as we increase the number of our vendors, our capital expenditure will also increase. If our infrastructure projects perform well, we will be able to spend up to ₹80 lakh crore in the next 25 years.

Six companies of Adani Group, Adani Green Energy, Adani Ports and SEZ, Adani Energy Solutions, Adani Power and two unlisted companies – Adani Airports and Adani Roads are soon planning big investments in the global and domestic markets. For this, these companies will raise funds from the market by issuing bonds. Companies will raise 80% of the total fund from foreign market and 20% from domestic market.

On January 24 this year, American short-seller company Hindenburg had accused Adani Group of money laundering and share manipulation, after which there was a huge fall in the company's shares. However, there was recovery later.

After this, the Supreme Court ordered market regulator Securities and Exchange Board of India (SEBI) to investigate against the company. However, the company has continuously denied these allegations.

Congress has been attacking the Adani group continuously for what the party alleges political patronage from the BJP and its top leaders. BJP has rfuted the allegations. Former Congress president Rahul Gandhi had also repeated his allegations at his election meetings in the recently held assembly polls in Madhya Pradesh, Rajasthan, Chhattisgarh and Telangana.