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Adani Group announces Rs 75k cr investment to boost MP’s infra, ET Infra

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New Delhi: In a significant move to bolster industrial and economic growth in Madhya Pradesh, Pranav Adani, Managing Director (Agro, Oil & Gas) and Director of Adani Enterprises, announced a massive investment plan by the Adani Group in the state. During the inaugural session of the Regional Industry Conclave in Ujjain, Adani detailed the conglomerate’s commitment to infuse nearly ₹75,000 crore across various sectors in Madhya Pradesh.

“Our cumulative investment in the state amounts to almost ₹18,000 crore – and we have created almost 11,000 employment opportunities across the state,” Adani stated, highlighting the group’s ongoing contributions to the state’s development. The planned investments aim to more than double the group’s footprint in Madhya Pradesh, focusing on sectors such as roads, cement, natural resources, thermal power, renewable energy, and power transmission.

Pranav Adani detailed specific projects, including an ₹5,000 crore investment to construct the Mahakaal Expressway connecting Ujjain with Bhopal via Indore. Additionally, the group intends to establish a 4-million-tons-per-annum clinker unit in Chorgadi and two cement grinding units in Dewas and Bhopal, totaling an 8-million-tons-per-annum capacity, with an investment of another ₹5,000 crore.

In the natural resources sector, the Adani Group plans to channel over ₹4,000 crore, alongside ₹600 crore towards expanding its operations in food processing, logistics, agri-logistics, and defence manufacturing. The investment strategy also includes allocating more than ₹2,100 crore to fuel distribution projects, primarily to enhance the city gas distribution network across five geographical areas in the state.

The highlight of Adani’s announcement was the group’s ambitious plan to invest close to ₹30,000 crore to increase the power generation capacity of its Mahan Energen plant in Singrauli from 1,200 megawatts to 4,400 megawatts. Furthermore, an investment of approximately ₹28,000 crore is earmarked for setting up 3,410 MW capacity pumped storage projects.

These investments are expected to generate over 15,000 direct and indirect employment opportunities in Madhya Pradesh, significantly contributing to the state’s industrial and economic landscape. “The Adani Group is privileged to be a part of this incredible journey you are leading,” Adani expressed, affirming the group’s commitment to the state’s development under the leadership of Madhya Pradesh Chief Minister, Dr. Mohan Yadav, and the vision of Prime Minister Narendra Modi.

  • Published On Mar 1, 2024 at 05:41 PM IST

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