Adani Group has formed a subsidiary company in China to provide supply chain solutions and project management services. The group gave this information to the stock market. The group’s flagship company Adani Enterprises said that a subsidiary of its Singapore-based subsidiary has formed Adani Energy Resources (Shanghai) Company (AERCL), a wholly-owned subsidiary based in Shanghai, China, on September 2, 2024.
What did the company say?
The company said, “AERCl has been formed to carry on the business of providing supply chain solutions and project management services.” This subsidiary has been formed by Adani Global Pte (AGPTE), Singapore, a subsidiary of Adani Enterprises Limited (AEL). AEL is involved in mining, road, airport, data center and water infrastructure business. According to the information, “AERCl has been formed and registered under the Company Law of the People’s Republic of China on September 2, 2024.” AERCL has not yet started its commercial operations.
The group will set up a semiconductor plant in Maharashtra
Let us tell you that recently it has been reported that Adani Group is going to set up a semiconductor manufacturing plant in Maharashtra in collaboration with an Israeli company with a total investment of Rs 83,947 crore (10 billion dollars). The Maharashtra government has approved four huge high-technology projects, including the Adani Group’s project in partnership with Tower Semiconductor. A total investment of Rs 1.17 lakh crore is expected in these projects and about 29,000 employment opportunities will be created.
