Adani Enterprises (AEL), led by billionaire Gautam Adani, is aggressively expanding its data centre business through AdaniConneX, a joint venture with Sweden’s EQT-owned EdgeConneX. The company plans to invest $5 billion over the next five years, with more than half potentially being invested this year alone. Of the total investment, around a quarter will come…
MUMBAI: In a first, the sub-continent’s wealthiest billionaires who are also among world’s richest industrialists, Mukesh Ambani and Gautam Adani, are entering a ‘power’ deal. Ambani will pick up a minority stake in a power unit of Adani, their companies announced Thursday. Ambani’s Reliance Industries will purchase 26% in Mahan Energen, a wholly owned subsidiary…
NEW DELHI: Mukesh Ambani‘s Reliance Industries has acquired a 26 per cent stake Gautam Adani’s power project in Madhya Pradesh. Reliance eyes to utilize 500 MW of electricity from the project for its captive use.The agreement involves Reliance purchasing 5 crore equity shares in Mahan Energen Ltd, a subsidiary of Adani Power Ltd. The deal,…
