Adani to ramp up energy, realty capacities

Mumbai: Adani Enterprises (AEL), the diversified company which recently approved a plan to raise Rs 3,000 crore through qualified institutional placement (QIP), today said it was adding capacities in its energy, real estate and agri businesses in the next three-five years.

“In its annual strategic review, AEL has identified several new initiatives in the ensuing three to five years,” a company executive said. “Real estate and power will be major revenue drivers after five years. The contribution from trading will be halved to 45 per cent.”

Adani is targetting a power generation capacity of 10,000 MW that will be operational in a phased manner. This includes the 2640 MW unit it has Mundra in Gujarat and a 1980 MW plant in Gondia, Maharashtra.

New units are to be set up in Rajasthan (1320 mw), Dahej, Gujarat (1980 mw) and 1980 mw added at the Mundra facility, the company said.

Adani has tied up with Rajasthan Rajya Vidyut Utpadan Nigam to mine coal in Chattisgarh, required for power stations in Rajasthan in the next 20 years.

It is pursuing coal mining initiatives for various state electricity boards and PSUs in Chattisgarh and Orissa, as well as overseas, the company said.

Extending network
After setting up gas distribution networks in Ahmedabad and Baroda, Adani is setting up similar networks in Jaipur and Udaipur (Rajasthan), Lucknow, Khurja and Noida (Uttar Pradesh) and Faridabad (Haryana) and plans to expand this business to other cities in the country, it said.

In the area of oil and gas exploration, Adani was awarded another block - L22/50 in Thailand in its latest bidding round. The company is exploring opportunities for other blocks in India and overseas and it has participated in the NELP VII bidding programme.

The company is also focussing on real estate with 100 million sq ft under development. It is developing a large integrated township in Ahmedabad over 40 million sq ft and has a slew of high-end commercial and residential projects underway in Mumbai where each project is upwards of two million sq ft.

Oil for food
In the edible oils business, Adani Wilmar, the joint venture with Wilmar Group of Singapore, has plans to increase crushing capacity to 10,000 tonnes a day from the current 2,900 tonnes a day, and increase refining capacity to 7,200 tonnes a day from 3,200 tonnes a day, the company said.

Another group company Adani Agrifresh is planning to set up controlled atmosphere storage facilities for fruits and vegetables, in several states and its agri logistics venture Adani Agri Logistics plans to create storage capacities and related infrastructure at multiple locations across the country.

Adani shares closed five per cent down at Rs 885.20 on the Bombay Stock Exchange on Thursday.