India’s Adani Group to invest $10 billion in US energy following Trump win

FILE PHOTO: The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad

(Reuters) – India’s Adani Group will invest $10 billion in US energy security and infrastructure projects, aiming to create up to 15,000 jobs, chairman Gautam Adani said in a post on social media platform X on Wednesday.

The billionaire announced the investment, with no specific timeline, while congratulating U.S. President-elect Donald Trump on his election win.

Trump has vowed to make it easier for energy companies to drill on federal land and build new pipelines, and law firms with strong traditional energy practices could benefit under his second administration.

Adani Group was accused by US-based short-seller Hindenburg Research in January 2023 of improper use of offshore tax havens and stock manipulation that sparked a $150 billion rout in shares of the group’s companies.

(Reporting by Gursimran Kaur in Bengaluru; Editing by Shailesh Kuber)