IHC and Adani Group sign pact with India's Odisha government to invest $25bn in 14 projects
Abu Dhabi-based International Holding Company (IHC) and India’s Adani Group have signed an initial agreement with the government of the state of Odisha to invest about 2.1 trillion rupees ($25 billion) to develop 14 projects. The proposed portfolio includes metal downstream industries, slurry pipelines, critical minerals and rare earths, chemicals and petrochemical derivatives, renewable energy…
Adani Ports executives have settled proceedings with the Securities and Exchange Board of India (Sebi) in the PMC Projects matter. According to Business Standard, Managing Director Karan Adani and CFO B Ravi have each paid Rs 13.65 lakh under the settlement mechanism, resulting in Sebi disposing of the adjudication proceedings.
The settlement relates to Adani Ports and Special Economic Zone (APSEZ). There is no further information on the PMC Projects matter.
Separately, Adani Group has announced plans to invest in multiple projects in the state of Odisha, as reported by The National Business. However, this news is unrelated to the settlement with Sebi.
Brief written by urgent.news from Business Standard IN, The National Business — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- IHC and Adani Group sign pact with India's Odisha government to invest $25bn in 14 projects thenationalnews.com
- Karan Adani settles PMC Projects case with Sebi by paying Rs 13.65 lakh economictimes.indiatimes.com
- Adani Ports executives settle Sebi proceedings in PMC Projects matter business-standard.com
