Adani Group to raise $1.5 B to finance data centre expansion

The Adani Group plans to raise USD 1.5 Billion in debt to finance the expansion of its data center infrastructure. The funding is intended for Ahmedabad-based AdaniConneX , a joint venture between the conglomerate and the data center operator EdgeConneX. The firm is in talks with several lenders, including DBS Group Holdings, First Abu Dhabi Bank, Mitsubishi UFJ Financial Group, Natixis, ING Bank, and Societe Generale.AdaniConneX operates as a component of the group's digital infrastructure strategy, which includes a plan to invest about USD 100 Billion into data centers and related projects by 2035. The company recently raised a USD 800 million loan for its data center operations, which carried an 18-month tenor.