Adani Group is gearing up for a $5 billion entry into India's metals sector, two years after making waves in the cement industry. This investment will position Adani as a competitor to major players like Vedanta Ltd, Hindalco Industries, and the Tata Group.
According to a report by Mint, the conglomerate’s natural resources division plans to invest in mining, refining, and producing copper, iron, steel, and aluminium over the next three to five years. Out of the $5 billion, $2 billion will focus on copper, while the remaining $3 billion will support ventures in other metals.
The metals industry holds strong synergies with Adani’s existing operations in renewable energy, logistics, ports, and infrastructure. These connections are expected to give Adani an advantage as it diversifies further into India's industrial landscape.
Earlier this year, Adani initiated copper operations with a smelter capable of handling 500,000 tons annually. The group aims to expand further into aluminium, iron, and steel, setting up a multi-metal presence to leverage the growing demand in India’s infrastructure and manufacturing sectors.
Adani's journey into metals mirrors its cement sector expansion in 2022, when it acquired Ambuja Cements Ltd and ACC Ltd for $6.6 billion, challenging Ultratech Cement’s market lead. This marked the beginning of a competitive phase in India’s cement industry.
With this latest investment, Adani Group aims to establish itself as a key player in India's metal sector.
