Adani Group plans to invest $5 billion in Google’s artificial intelligence (AI) hub in Andhra Pradesh, Chief Financial Office Jugeshinder Singh said on Friday. “That (investment) will expand. It’s not only Google; many other parties are also interested in collaborating with us, especially as data centre capacity reaches 1 gigawatt or beyond,” Singh told reporters on the sidelines of an event here. He, however, did not share further details or a timeline of the investment.
Google to invest $15 billion in Vizag
In October, Adani Enterprises, through its joint venture company AdaniConneX, had announced a partnership with Google to develop India’s largest AI data centre in Visakhapatnam, Andhra Pradesh. Google has already announced investments worth $15 billion over five years for the data centre.
Singh further said the company plans to raise Rs 90,000 crore in the next financial year though debt. Of the total fundraise, 55% will come from domestic sources — banks and debt capital market — and the rest will come from global banks and overseas markets. Out of the total funds planned to raise domestically, the debt capital market will constitute 6%.
Rs 1.5 lakh crore capex planned, says CFO
The company has earmarked capital expenditure of Rs 1.5 lakh crore for the next financial year, the CFO said. So far in the current financial year, the company has raised Rs 80,000 crore via equity and debt and targets Rs 44,000 crore for rest of the year, the CFO said. He added that the company usually raise about RS 40,000 crore each quarter, depending on seasonality.