Adani Group, an Indian conglomerate that converts ports into power, will increase its capital expenditures to 1.3 trillion rupies ($15.6 billion), up from 700 billion rupies a year ago. Chief Financial Officer Jugeshinder Singh announced this on Tuesday.

Adani Green Energy will invest 340 billion rupees in order to increase 6 gigawatts in capacity. Singh said this at a press briefing held in Ahmedabad, Gujarat.

The comments were made a day following billionaire owner

Gautam Adani

Investors were told that the group was "well-positioned" to take advantage of the opportunities in the booming infrastructure industry.

Adani, who has businesses in ports, power utilities and transmission, as well as coal trading, bets on infrastructure spending which will grow at a rate of 20-25% annually, Adani stated on Monday.

Singh denied on Tuesday that the group was planning to acquire a stake in Paytm. However, he said the group would "evaluate all opportunities" within the fintech sector.