The $6-billion Adani Group, which has emerged as India’s major diversified conglomerate in recent years, will have a new identity and logo by this weekend.
The Group’s Chairman, Mr Gautam Adani, will make an announcement in this regard in Mumbai on February 23, a company official said here on Tuesday.
The Group has seen mixed fortunes in 2011-12. Last week, it announced its exit from the real estate business. While the flagship Adani Enterprises Ltd is busy “rationalising” its investment plans in Indonesia and Australia, the Group’s energy arm, Adani Power Ltd, has decided to put on hold its thermal power projects with 6,500 MW capacity due to uncertainties in coal procurement. But it is set to achieve a 6,600 MW capacity by March.
The Group also rechristened its port operator arm, Mundra Port and SEZ Ltd, as Adani Port and SEZ Ltd, as its business operations have now spread out beyond Gujarat. However, while this company got ports such as Goa, Visakhapatnam and Paradip for development projects, it also lost out on two similar projects in the southern States.
A major achievement of Adani Port and SEZ Ltd was that its neighbour-cum-competitor, Kandla Port, run by the Government of India, awarded it a Rs 1,000-crore project for developing a satellite port in the Gulf of Kutch.