Saturday, February 4, 2023

Gautam Adani: Adani got a loan of ₹ 6000 crores from a government bank, what is the reason?

Bright Times News: The time is going very well for Gautam Adani. Three days ago, at the age of 60 – he donated about Rs 60,000 crore to social work on his birthday – then a storm of applause surrounded him on the net.

Gautam Adani received a loan for more than Rs 6,000 crore just three days later. The veteran industrialist has received huge loans from various state-owned banks in the country.

But why is this richest industrialist in India and Asia getting this huge loan? The identity of Gautam Adani in the energy business is universal. There are hardly any personalities in the business community who do not know about his investment. Recently, Gautam Adani is looking to emerge as one of the biggest heads in the Copper Business in the country and Asia.

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Want to take several steps to capture refined copper production and its market across the country. Initially, he set out to raise funds for several projects, including factory building – copper production, and various other hubs. In raising this capital, he has been assisted by several state-owned banks in the country.

It is learned that several banks in the country, including various SBIs, have lent large sums of money to Adani. Every bank issue stated. In other words, Gautam Adani wants to be one of the biggest players in the world in the copper business by relying on the state capital.

But how will the whole thing be organized? A refining plant will be built by Kutch Copper Ltd, an Adani Enterprises affiliate, to manufacture refined copper. That project will require a large amount of capital.

This capital will be provided by the state-owned banks. Incidentally, when this project is completed, 0.5 million copper will be produced in two specific steps. This project is called ‘The Greenfield Copper Project’.

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Vishnu Soni
Vishnu Soni
I am working in NewsMarkets24 Network for the last several years, I learn a lot of things here like News editing ,News writing and how to manage my team to maintain our goals. My job does not only give me experience but also helps to shape my person for success. it gives me a chance to improve my skills and knowledge
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