Adani Enterprises’ joint venture company AdaniConneX has acquired a 100 per cent stake in Trade Castle Tech Park Pvt Ltd for Rs 234.31 crore. In an exchange filing, Adani Enterprises said that the object of the acquisition is to set up infrastructure facilities.
Furthermore, the company stated that Trade Castle Tech Park is yet to commence any commercial operations as it was set up in October 2023. it t owns a sizeable land parcel and has secured key licenses to commence infrastructure activities, which would be important for AdaniConneX operations.
AdaniConneX business
AdaniConneX is a joint venture between Adani Enterprises and EdgeConneX, a leading global data centre operator. The JV operates in the data centre operations.
The joint venture has operating and upcoming data centres in Chennai, Hyderabad, Noida, Navi Mumbai and Pune.
Adani Group data centre investment
Last week, Adani Group announced an investment of 1 lakh crore over the next decade in Andhra Pradesh. The company said that the massive investment will span across sectors such as data centres, energy, ports, cement and manufacturing.
Karan Adani, Managing Director of Adani Ports and SEZ, also unveiled the Adani Group’s $15 billion Vizag Tech Park vision, which includes building one of the world’s largest green-powered hyperscale data-centre ecosystems in partnership with Google.
