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Adani Global Limited + Sirius International Holding partner up to form AI JV: Indian conglomerate Adani Group has formed a JV with UAE-based Sirius International Holding, a subsidiary of IHC, to deploy integrated digital platforms through artificial intelligence, internet of things (IOT), and secured blockchain products across infrastructure industries in India, according to a disclosure (pdf) on the National Stock Exchange of India.
Who owns what: Sirius will own 51% of the Abu Dhabi-based JV — dubbed Sirius Digitech International Limited — while Adani will own the remaining 49%, according to the disclosure.
Will these infrastructure industries include logistics? Adani’s logistics arm provides services across India including retail, industrial, container, bulk, break-bulk, liquids, auto and grain handling, according to its website. It operates 11 multimodal logistics parks across India, including Patli, Tumb, Kilaraipur, Nagpur, Kishangarh, Malur, Taloja, Kanech, Mundra, Loni and Valvada, and has a warehousing capacity of some 1.5 mn sq feet across India. Adani Ports and Special Economic Zone (APSEZ) is also India’s largest port operator with 13 ports and terminals.
Why this is important: The implementation of AI, IOT, and secured blockchain products into logistics enables challenges in an evolving digital landscape to be addressed, and enables businesses to thrive through digital transformation and optimize industries, and streamline their processes. AI is enabling businesses to become more efficient, ensure real-time decision making, and the deployment of business models.
IHC has stakes in Adani: Abu Dhabi’s IHC upped its stake in Adani Group to over 5% in October, as IHC believes in “the inherent strength of airports, data centers, green hydrogen, and various other verticals being incubated under Adani.” This follows after IHC sold its investments in Adani Green Energy and Adani Transmission as part of its strategy to rebalance its portfolio.
And Adani has wider interests in MENA: The group operates Israel’s Haifa port along with a local company under the Adani-Gadot Group, following a ILS 4 bn (USD 1.15 bn) purchase in last January. The group also faced its shares falling some 4.5% back in October amid the Israel-Gaza conflict, as investors grew weary over the escalation in Israel. APSEZ also partnered with UAE’s AD Ports back in 2022 for joint investments in the infrastructure sector in Tanzania to invest in logistics infrastructure — rail, maritime, and port operations.
