Adani Group Considers Investing in Kazakhstan, Notes Its Transport Potential

ASTANA -Founder of the Indian Adani Group, Gautam Adani noted Kazakhstan’s transport and logistics’ high potential and offered to act as a strategic partner in constructing international transport corridors running through the country to increase its economic competitiveness, reported Kazakh Invest National Company’s press service.

The Kazakh delegation at the meeting with the Adani Group representatives. Photo credit: Kazakh Invest press service.

The Kazakh delegation headed by Deputy Foreign Minister Almas Aidarov went on a working visit to India on Nov. 17, where they met Gautam Adani and other top managers within the Adani Group.

Aidarov highlighted the prospects of bilateral cooperation and invited the Indian tycoon to invest in Kazakhstan’s transport and logistics, petrochemical, and energy sectors.

“Kazakhstan is the leader in the inflow of foreign direct investment in the region. It guarantees security, stability, and favorable conditions for your investment projects. In addition, considering the current geopolitical situation, several foreign companies are revising their strategy and operations in the region, which gives us certain opportunities for developing new industries in Kazakhstan,” Aidarov said.

Kazakh Invest representative to India, Olzhas Alipbayev, gave a general overview of the country’s investment climate and the available state support. Adani Group officials highly appreciated Kazakh Invest’s and Kazakh Foreign Ministry’s assistance  in fostering investment cooperation.

The company already signed a memorandum of understanding with Kazakhstan when its representatives came to the country in August. One of Adani Group’s heads, Sandeep Mehta, also participated in the Kazakhstan Global Investment Roundtable in October.

According to Bloomberg, Adani Group is an Indian conglomerate founded in 1988 by Gautam Adani, the world’s third richest man. The company comprises nine publicly listed companies covering energy, airports, seaports and logistics, cement, mining and minerals, and gas. 

In October 2022, the Group’s total market capitalization exceeded $260 billion. Its annual revenue is over $20 billion, with a presence in over 50 countries and more than 23,000 workers.

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