New Delhi, November 28 (IANS). Abu Dhabi’s global sovereign fund International Holding Company (IHC) on Thursday said there is no change in its approach on investments in the group following the filing of charge sheets against Adani Group executives in the US.
In its statement, IHC said, “The partnership with Adani Group reflects our confidence in their contribution to the green energy and sustainability sectors.”
IHC is among the world’s largest sovereign funds and manages assets of more than $100 billion.
IHC further said that our team continues to evaluate the relevant information and progress of all investments. There is no change in our view on investments in Adani Group at this time.
In April 2022, the sovereign fund had invested about $ 500 million in Adani Group’s renewable energy company Adani Green Energy and power company Adani Transmission and $ 1 billion in the group’s flagship company Adani Enterprises.
The Port Authority of Sri Lanka has also expressed confidence in the partnership with Adani Group. This project of Adani Group has great importance in the port infrastructure of the country.
Adani Group is investing more than one billion dollars in Colombo Terminal. This is the largest ever foreign investment in Sri Lanka’s port sector.
The Tanzanian government also reaffirmed its commitment to its agreements with Adani Ports, saying, “There are no concerns regarding ongoing projects and all contracts fully comply with the country’s legislation.”
Apart from this, confidence was expressed on the shares of Adani Group by top investors on Thursday.
GQG Partners said that we do not believe that such action will have any impact on the company’s business.
He further said that the business being done by the company comes under critical infrastructure and is regulated by the Government of India. In most cases these involve long term contracts. We believe the company’s fundamentals remain strong.
–IANS
ABS/ABM
