Adani Group's Chairman Gautam Adani posted on X (formerly Twitter) that the group is "committed to leveraging its global expertise" and will invest in projects in the U.S. that are expected to create 15,000 jobs.
This U.S. investment comes after Adani Group's market value saw a significant drop last year following allegations of corporate governance and accounting fraud raised in January 2023 by New York-based short-selling firm Hindenburg Research.
While India's securities regulator launched a wide-ranging investigation into the Adani Group, the company managed a comeback by securing substantial new capital from overseas investors, including U.S.-based GQG Partners.
In recent months, the Adani Group has also announced large-scale domestic investments in metals, ports, and green hydrogen production. The group is further solidifying its market share in the cement and construction sectors.
In October, Adani acquired Orient Cement for $963 million and ITD Cementation for $381 million.
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