Adani Group Set to Invest $5 Billion into Metals Business

In a move aimed at diversifying its business portfolio, Adani Group has announced plans to invest $5 billion in the metals sector over the next three to five years. The conglomerate's entry into the industry is expected to create synergies with its existing renewable energy and infrastructure businesses.

As of today, copper production will receive a major boost as Kutch Copper Plant gets to expand operations, reaching double capacity by increasing investments on this plant to 1 billion dollar.

The move is seen as an exciting development in Adani's expansion strategy, especially after entering India's cement industry just two years ago. This latest investment indicates the company's commitment to diversification and taking on global titans like Vedanta, Tata Group, and Hindalco Industries.

Copper production will be given $2 Billion of this sum while An insider said "the group is well-positioned to enter other metals, including aluminum, iron and steel".