Adani Group To Spin Off Hydrogen, Airports And Data Centre Businesses: Report
AEL currently houses new businesses such as hydrogen, where the group plans to invest $50 billion over the next 10 years
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Adani Group's chief financial officer Jugeshinder Singh has said that the Group has plans to diversify its business to certain sectors like hydrogen, airports and data centres between 2025 and 2028, after receiving certain investment profiles, according to a PTI report.
Adani Enterprises Ltd, (AEL) which is looking to raise INR 20,000 crore in a follow-on share sale, is the business incubator for the group. Over the years, businesses such as ports, power and city gas were first incubated in AEL before being spun off or demerged into separate listed companies, the report stated.
"The businesses have to achieve a basic investment profile and maturity before being considered for a demerger. Between 2025 and 2028 we think these businesses can achieve the desired levels for a demerger," Singh told PTI.
He further added that the group is looking to become one of the lowest cost producers of hydrogen -- a fuel of the future that has zero carbon footprint. It is also betting big on its airport business with an aim to become the largest service base in the country in the coming years, outside of government services.
AEL currently houses new businesses such as hydrogen, where the group plans to invest $50 billion over the next 10 years across the value chain, flourishing airport operations, mining, data centre and roads and logistics, as per the report