Adani Group to invest Rs 75,000 crore in MP, Pranav Adani sees infinite possibilities for growth

BILKULONLINE

New Delhi, March 1 : The Adani Group, at the Regional Industry Conclave 2024 which began in Ujjain on Friday, vowed to make colossal investments of up to Rs 75,000 crore in Madhya Pradesh, which, in turn, will generate over 15,000 direct and indirect employment opportunities in the state, spread across various industrial sectors.

In his address, Pranav Adani, Director of Adani Enterprises, talked about immense possibilities for growth in the state and reiterated the Adani Group’s commitment for big-ticket investments in the state.

“I see infinite possibilities for infinite growth – especially in energy and infrastructure – and the Adani Group is excited about investing in Madhya Pradesh,” he told the gathering.

Further, lauding the state government for prioritising progress over politics and creating a congenial environment for growth, he spoke about Adani Group’s existing presence in a wide range of sectors including roads, cements, thermal power, renewable energy, and power transmission sectors.

“In Madhya Pradesh, the Group’s cumulative investment stands at Rs 18,000 crore and it has created over 11,000 job opportunities so far,” he said.

He further vowed to double down investments on existing projects and also launch new projects for spurring growth in the state.

Giving a low-down on upcoming investments planned by the business behemoth, Pranav Adani informed that Adani Group will increase investments in the state up to Rs 75,000 crore, out of which Rs 5,000 crore will be spent on building Mahakal Expressway, from Ujjain to Bhopal through Indore.

He also unveiled the company’s plans of setting up a clinker unit in Chorgadi and two cement grinding units in Dewas and Bhopal, at an estimated cost of Rs 5,000 crore.

The company has also ambitious plans of making big investments in natural resources and a food processing centre in the state.

“We will invest over Rs 4,000 crore in natural resource sector and another Rs 600 crore to expand our presence in food processing, logistics and agri-logistics, and defence manufacturing,” said Pranav Adani.

In a bid to make the state power-surplus, the Adani Enterprises Director said that the company has set investment targets of Rs 30,000 crore for ramping up power generation capacity.

“We will invest close to Rs 30,000 crore to ramp up the power generation capacity, at our Mahan Energen plant in Singrauli,from its current 1,200 megawatts to a massive 4,400 megawatts. We will also invest close to Rs 28,000 crore to set up 3,410 MW capacity Pumped Storage Projects,” he told the conclave.

Earlier on Friday, the two-day Regional Industry Conclave 2024 kicked off in Madhya Pradesh, with Chief Minister Dr Mohan Yadav laying the foundation stone and inaugurating 57 projects, spanning across 20 districts including Bhopal, Ujjain, and Indore.

The state government expects the Conclave to attract investments of over Rs 1 lakh crore, with employment opportunities for more than 17,000 people.