13.Dec .2022 20:00

Third-Richest Person in the World Shows Interest in Kazakhstan

Third-Richest Person in the World Shows Interest in Kazakhstan
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The head of the Indian conglomerate Adani Group Gautam Adani arrived in Astana on a business visit. The Indian delegation was received by the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev. Meetings were also held with the Prime Minister of the Republic of Kazakhstan Alikhan Smailov and heads of state bodies.

The parties discussed issues of bilateral cooperation in such sectors as logistics, energy, petrochemistry.

According to official statements, President Tokayev welcomed the plans of Adani Group, the Indian multinational conglomerate, to develop transport infrastructure in the region. The Head of State pointed out that Kazakhstan is working to diversify transport routes and actively develops the Trans-Caspian International Transport Route.

Gautam Adani, for this part, told Kassym-Jomart Tokayev the conglomerate is interested in establishing cooperation with the Kazakh side in other key sectors of economy, including energy, petrochemistry, and renewable energy resources.

"Was an honour to meet with His Excellency President of Kazakhstan Kassym-Jomart Tokayev. Amazed by his extraordinarily decisive vision on the future of Kazakhstan. Great positive discussions on the possibilities in the Energy and Logistics space in this magnificent land," Asia's richest man wrote on Twitter.

Adani Group's diverse businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure. Adani Group has over 100,000 total employees directly and indirectly in the world.

In April 2021, Adani Group became the third Indian conglomerate to cross US$100 billion in market capitalization. It crossed the market capitalization of US$200 billion in April 2022 becoming the third Indian conglomerate after Tata Group and Reliance Industries to do so. In November 2022, Adani Group market capitalization reached top $280 billion ( INR 24 trillion) and market capital vision $1 trillion by 2029, surpassing Tata Group.

More than 60 percent of the Adani Group’s revenue is derived from coal-related businesses.