Ahmedabad (Gujarat) [India], March 17 (ANI): Adani Group plans to invest USD 14 billion (Rs 1.2 lakh crore) in 2024-25 financial year through its portfolio of 11 listed companies, in developing the country's infrastructure, according to sources.

The projected capital expenditure is 40 per cent higher than its it invested in the current financial year 2023-24, which is estimated at USD 10 billion.

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India's largest infrastructure conglomerate with showcase projects like Navi Mumbai Airport, Ganga Expressway, world's largest renewable park at Khavda and Mundra Port has committed a USD 100 billion investment over the next 7-10 years.

This investment is expected to play a pivotal role in transforming India's energy and transportation landscape.

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With strong emphasis on green energy transition, it will be allocating more than 70 per cent of this USD 100 billion to its green businesses including renewable power, green hydrogen , green evacuation transmission lines, the sources said.

The conglomerate is building world's largest renewable park at Khavda, Gujarat, spanning over 530+ square km area.

A large portion of total investments is earmarked for expansion and development of its fast-growing airports business and ports business, the sources added.

With a portfolio boasting 8 airports including the upcoming Navi Mumbai airport and 14 domestic ports, Adani Group wants to further solidify its presence in these sectors.

In the December quarter, it reported record quarterly EBITDA growth of 63.6 per cent year-on-year, taking its twelve-month EBITDA to all time high of USD 9.5 billion (Rs 78,823 crore) in calendar year 2023, led by its investments in previous years.

The net debt to EBITDA at the end of September was 2.5x, which is expected to further reduce by end of 2023-24, due to strong growth.

With higher investments, it is setting stage for an exponential growth in the coming years, said one of the sources.

In a media statement released in February, the group said that increasing cashflows and its robust credit profile has set stage for unrivalled 'Green Investment.' (ANI)

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