Adani Group, led by Gautam Adani, has established a joint venture with a unit of the UAE’s International Holding Company to explore artificial intelligence and other technologies, signaling deepening ties between the Indian group and its backers in the Middle East.
Adani Global and Sirius International Holdings, a subsidiary of IHC, have a 49% and 51% stake, respectively, in Sirius Digitech International, which will be headquartered in Abu Dhabi, according to a disclosure to the bourse.
“Both companies will have equal representation on the board of directors of the new company, which also works in the fields of IoT and blockchain along with artificial intelligence,” the statement showed.
Adani Global is a wholly owned subsidiary of the well-known Adani Enterprises, which has a proven track record of sponsoring new activities within the group operating in areas ranging from ports to energy.
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