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Adani gets big investment deal to boost Sri Lanka’s economy

Adani gets deal in Sri Lanka: The Sri Lanka government on Thursday permitted the Adani group to set up a Wind Power Project. Adani group will be the first foreign company to make such a huge investment while the island nation is facing a huge economic and political crisis.     Sri Lanka Board Of Investment said […]

Edited By : Aditya Singh | Updated: Feb 24, 2023 10:59 IST
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Gautam Adani
Gautam Adani

Adani gets deal in Sri Lanka: The Sri Lanka government on Thursday permitted the Adani group to set up a Wind Power Project. Adani group will be the first foreign company to make such a huge investment while the island nation is facing a huge economic and political crisis.    

Sri Lanka Board Of Investment said that Adani group will invest RS 44.2 crore to establish two wind power projects in northern Sri Lanka.  

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” Adani group will establish two wind power stations with an investment of 44.2 crores. The construction will be completed by 2025 and it will be operational by the same year,” Investment Board said.

This is the second huge project for Adani group in Sri Lanka. In 2021, the Sri Lankan government handed over a strategic port terminal project worth 70 crore dollars to Gautam Adani group.

Adani Green Energy shares hit lower circuit

Despite news of getting a project in Sri Lanka, Adani Green Energy shares have hit a lower circuit with a new 52-week low at 512.10. After the Hindenburg report, shares of Adani group’s companies witnessed a huge decline.  

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First published on: Feb 23, 2023 05:50 PM IST

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