At the investor summit held in the state, Karan Adani declared massive investments by his company in Andhra Pradesh. This entails the construction of two cement plants with a combined annual capacity of 10 million metric tonnes (MTPA), a 15,000 megawatt (Mw) renewable energy project, a 400 Mw data centre, and plans to increase port sector capacity by 100 MMT. This is happening at a time when neither Gautam Adani nor any other member of the family attended the highly publicised investor meeting that the state of Uttar Pradesh hosted in Lucknow last month. The company’s CEO and son of Gautam Adani, Karan Adani, is in charge of Adani Ports and SEZ. The mega investment announcement also comes at a time when the Adani Group is battling allegations of stock manipulation and fraud raised by Hindenburg Research.

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