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Adani's dig in to dominate India's Logistics sector

By Vansh Jain and Keerat Kaur


 


Adani Group is a multinational industrial conglomerate with a turnover of over $15 billion with operations at 70 locations in 50 countries and has organizations across Power, Renewable Energy, Logistics, Ports, Gas Distribution, and rail. Gautam Shantilal Adani, an Ahmedabad based business tycoon is the Founder and Chairman of the Adani Group.

After seaports, Adani Group is now investing large amounts in the airport sector, getting contracts to run six AAI-constructed non-metro air terminals in major cities like Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram, and Mangalore. It has now entered the nation's second-busiest air terminal, Mumbai. With the six non-metro airports and MIAL, the Adani Group is progressing to become the biggest administrator of airports just after the state-run AAI, which administrates the majority of the airports in India.

The Adani Group has disclosed plans of becoming 'India's leading airport administrator', which was expressed in its yearly report for FY20. It also expressed in its yearly report that developing domestic traffic is giving immense opportunity to extend and scale up its business. These plans have provided assistance to other business sectors of the Adani Group.

Recently, Adani Airports secured GVK Airport Developers Ltd's 50% stake in the Mumbai International Airport Ltd (MIAL). It is likely to buyout 23.5 percent stake of Airports Company of South Africa (ACSA) and Bidvest Group to get a 74 percent controlling interest for MIAL.

The Adani Group also believes that renewable energy will rebuild the foundation of the energy sector. The company envisions to fasten its development of Adani Green Energy Ltd. by forming associations with global energy players and industrialists. Adani Green is ranked as the world's No. 1 solar energy enterprise as far as capacity and operations are concerned.

In June this year, Adani Green won a contract to build solar photovoltaic power projects of 8 GW, which is the world's greatest contract in this sector, including an estimated investment of about $6 billion. Adani Green also proposes to produce 2 GW worth of sun based cells and modules by 2022. The stock of Adani Green Energy contacted its all-time high on 2nd September on the back of successful investments.

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