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Bengaluru (The Hindu): Adani Group has proposed to invest Rs. 11,500 crore for expanding the capacity of Udupi Power Corporation Ltd. (UPCL) from 1,200 MW to 1,600 MW. The group has also proposed to invest Rs. 2,000 crore on developing the Tadadi port in Uttara Kannada district.
At the ‘Invest Karnataka 2016’ here on Wednesday, Gautam Adani, founder-chairman of Adani Group, said the expansion would cater to 20 million households, up from the current 9 million households. The expansion of the thermal power plant would generate an additional 600 jobs, he said.
The investment climate in Karnataka had been very conducive across the sectors where the company had its presence, Mr. Adani said, and added, “We are investing Rs. 11,500 crore for increasing the capacity of Udupi Power Corporation to 1,600 MW.”
To give a thrust to its renewable energy sector, the group had proposed to invest Rs. 700 crore on setting up a 1,000 MW solar plant in Karnataka, he said. “We are intended to develop Tadadi port by spending Rs. 2,000 crore,” he said.
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