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Adani Infra to buy 30% stake in construction firm PSP Projects for ₹6.85 billion

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Adani Infra to buy 30% stake in construction firm PSP Projects for ₹6.85 billion

Adani Infrastructure, a subsidiary of Adani Enterprises, is set to acquire a 30.07% stake in PSP Projects, a construction firm based in Gujarat, for INR 6.85 billion. The deal includes purchasing shares from PSP Projects' top shareholder, Prahladbhai S Patel. PSP Projects is involved in various construction projects, with an order book worth INR 65.46 billion. Adani Infrastructure will also make an open offer to buy additional stakes in PSP Projects. In addition to this, Adani Group recently announced plans to invest $10 billion in energy security and infrastructure projects in the United States, aiming to create around 15,000 jobs. They also plan to invest $5 billion in India's metal business.

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