Adani Group to invest Rs 70,000 cr in UP: Gautam Adani at Investors Summit 

Billionaire industrialist Gautam Adani said that the Adani Group will invest Rs 70,000 crore in Uttar Pradesh and that this investment will create 30,000 jobs in India’s most populous state. Adani was speaking at the ongoing UP Investors Summit in Lucknow.  

The industrialist, who also featured in TIME Magazine’s list of 100 Most Influential People of 2022, further said that the group is also investing Rs 24,000 crore in developing road and transport infrastructure in the state, he added that the Adani Group will pump in Rs 35,000 crore towards multimodal logistics and defence sectors.  

He said, “We are also investing Rs 24 thousand crores on road and transport infrastructure and Rs 35 thousand crores in multimodal logistics and defence sectors.” 

Meanwhile, Adani Ports and Special Economic Zone (APSEZ) reported a 15 per cent on-year rise in volumes despite rising crude costs, as per an exchange filing. Key ports that reflected growth in volumes are Kattupali and Ennore combined (50 per cent), Dahej (42 per cent), Dhamra (35 per cent) and Mundra (7 per cent).  

APSEZ handled cargo volume of 30.37 MMT in May 2022, implying a 4 per cent on-year growth whereas total coal volumes saw an on-year rise of 6 per cent.  The growth in coal volumes was backed by thermal coal growth (5 per cent) and coking coal (9 per cent).