Adani Group to Invest $5 Billion in Metals Sector

Indian business conglomerate Adani Group is planning to invest around $5 billion in the metals sector over the next three to five years, according to a report by LiveMint.

The strategic move comes two years after the group's successful entry into India's cement industry. The investment will focus on mining, refining, and production of copper, iron, steel, as well as aluminum, which is expected to take on several other players in the market including Anil Agarwal-led Vedanta, Tata Group's Hindalco Industries, and Aditya Birla Group.

The Adani Group has already established itself in the industry with its operational copper plant, Kutch Copper, which will receive an additional $1 billion investment to double its capacity. The company is also well-positioned to enter other metals including aluminum, iron, and steel.

Industry insiders see a significant benefit from this move, citing synergies between the Adani Group's current businesses in renewable energy, logistics, transmission, ports, and infrastructure. Captive consumption of the metals produced will play a major role in driving growth, with a focus on supporting the group's green energy businesses such as solar, wind, and green hydrogen, as well as its transmission services.

As part of this expansion strategy, the Adani Group aims to establish itself as a major player in the metals sector.