Bribery case: 'No one from Adani Group charged in US'

NEW DELHI: Adani Group plans to invest $15-20 billion a year across businesses over the next five years to chart out the next phase of growth, chairman Gautam Adani said on Tuesday as he touted the conglomerate's strong balance sheet to shrug off an indictment in the US. Addressing the group's AGM virtually, he referred to recent indictment by the US authorities in an alleged bribery scheme to win lucrative renewable energy supply contracts, saying no one from Adani Group has been charged with violating US Foreign Corrupt Practices Act or conspiring to obstruct justice. The group is eyeing 100 gigawatt of renewable and conventional electricity generation capacity by 2030 and will use record earnings to expand the empire that ranges from seaports to airports, renewable energy parks to data centres, cement to gas and electricity.About the group's plans, he said: "Our capital investment across businesses is set to break all records. We anticipate an annual capex spend of $15-20 billion for the next five years." Agencies