Adani Enterprises' Arm Secures $394 Mln Financing

Adani Enterprises Ltd. said its unit Adani New Industries Ltd. raised trade finance facility of $394 million from Barclays Plc and Deutsche Bank AG.

The facility will be used for working capital requirements of Adani New Industries’ integrated solar module manufacturing facility, the flagship company of Adani Group said in a stock exchange announcement.

Adani New Industries is building an ecosystem of one of the largest integrated green hydrogen businesses, including solar modules and wind turbine manufacturing, according to the statement.

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