Several stocks of the Adani Group climbed on Tuesday after the Gautam Adani-led conglomerate announced its plans to invest Rs 42,768 crore in Tamil Nadu through its various group companies. 

The port-to-power group has signed various memorandums of understanding (MoUs) at the Tamil Nadu Global Investors Meet 2024, planning to invest in renewable energy, cement, data centres, and city gas distribution.

The MoUs were signed in the presence of Tamil Nadu CM MK Stalin, state industries minister TRB Rajaa, and Adani Ports and Special Economic Zone managing director Karan Adani, along with other cabinet ministers and secretaries.

Adani Green Energy plans to invest Rs 24,500 crore to diversify its presence by investing in PSP plants and hydroelectric energy storage systems. This is the biggest investment among the group companies and would create over 4,400 job opportunities in the next 5-7 years. 

Adani Connex will invest Rs 13,200 crore over the next 7 years in the 33 MW Adani-EdgeConnex data centre. The capacity of the network-neutral hyperscale data centre, powered by renewable energy, will now be raised to 200 MW.

Ambuja Cements will ramp the annual capacity in the city up to 14 million metric tonnes with an investment of Rs 3,500 crore to set up three plants, including one with a capacity of 2 million tonnes in Madukkara and two each with a capacity of 6 million tonnes in Kattupalli and Tuticorin. 

Adani Total Gas, which serves over 5,000 homes in Cuddalore and Tiruppur districts, will invest Rs 1,568 crore in the state in the next 8 years to expand its offerings in city gas distribution, liquefied natural gas, and electric vehicles.