Adani Group Forges AI Joint Venture with Middle East Backer IHC
- The 49:51 JV will be based in Abu Dhabi: Adani filing
- Pact shows Adani Group is back to expanding aggressively
The Adani Group, led by Gautam Adani, has formed a joint venture with a unit of UAE’s International Holding Co. to explore artificial intelligence and other technologies, signaling deepening ties between the Indian conglomerate and its Middle-East backers.
Adani Global Ltd. and IHC’s Sirius International Holding Ltd. will own 49% and 51% respectively in the Sirius Digitech International Ltd., which will be based in Abu Dhabi, according to an exchange filing Thursday. Both partners will have an equal representation on the board of new entity which will also explore Internet of Things and blockchain besides AI, it added.