After an all-time stock market high, businessman Gautam Adani revealed his plans of ₹7 lakh crore investment across several sectors to boost the economy.
Multi-billionaire businessman Gautam Adani, after his company’s bumper week on the stock market, announced that the Adani Group will be investing a total of ₹7 lakh crore in multiple industries to establish his firm as an infrastructural leader in the country.
Billionaire Gautam Adani is planning to expand his investment in green energy.(REUTERS)
Adani Group chairman Gautam Adani took to social media platform X highlighting in detail the new green initiative of his firm, where it will be investing in multiple verticals of the apples-to-airports conglomerate.
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During the stock exchange filings, Adani Energy Solutions said, “The portfolio recently announced its plan to invest over ₹7 lakh crore over the next 10 years to consolidate its preeminent position as the largest infrastructure player in India.”
Adani is planning to expand on the company’s environmental conciousness, investing ₹7 lakh crore in various aspects of a green initiative by the multi-billion dollar firm. Currently, it is focussing its ports business towards a greening drive.
Gautam Adani said on X, “By 2025, we will set a national benchmark being the only carbon-neutral port operations and be net zero for APSEZ by 2040. Our climate-friendly transformation includes electrifying all cranes, switching all diesel-based internal transfer vehicles to battery-based ITVs, and installing an additional 1000 MW of captive renewable capacity.”
Adani Ports and Special Economic Zone is the nation’s largest seaport operator in the country, with ports on both the east and west coasts.
How is Adani Group going green through ₹7 lakh crore investment
Gautam Adani said his firm will be expanding its renewable energy business, among other initiatives.
“Our dedication to protecting the environment is also reflected in our expanding mangrove plantations, aiming for a remarkable 5000 hectares by FY 25. This is yet another step towards a greener future and further testament of our commitment to climate stewardship,” he said.
Adani also shared the plans for the development of “the world’s largest green energy park” being developed by his firm in Kutch desserts in Gujarat.
“This monumental project, covering 726 sq km in the challenging Rann desert, is visible even from space. We will generate 30GW to power over 20 million homes. Also, just 150 km away, in our Karmabhoomi Mundra, we are creating one of the globe’s most extensive and integrated renewable energy manufacturing ecosystems for solar and wind,” the businessman said.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
