Announcing a raft of investments worth a whopping Rs 75,000-crore in Madhya Pradesh, Pranav Adani, Managing Director (Agriculture, Oil & Gas), Adani Group, thanked state chief minister Mohan Yadav for giving the company an opportunity to come to the land of the supreme deity, Lord Mahakal, through the investor summit.
Speaking at the two-day summit at the holy city of Ujjain, Adani said, Madhya Pradesh was the heart of the country, and the future belonged to the state.
“I am excited to share the confidence of our nation’s business community that you will enable more growth and prosperity for Madhya Pradesh than ever before. And assembled here today are the some of our nation’s brightest business minds – the team that will build on your vision to transform Madhya Pradesh into India’s ‘Mukhya Pradesh’.
“I see infinite possibilities for infinite growth – especially in energy and infrastructure – and the Adani Group is excited about investing in Madhya Pradesh,” Adani added.
Adani Group’s interests in the state span a wide range of sectors – from roads, cement and natural resources to thermal power, renewable energy and power transmission.
“Our cumulative investment in the state amounts to almost Rs 18,000 crore – and we have created almost 11,000 employment opportunities across the state,” the director of Adani Enterprises further said at the conclave.
He said the company would more than double its investment in Madhya Pradesh, and contribute in the state’s all-round development.
The company has earmarked Rs 5,000 crore to build the Mahakaal Expressway from Ujjain to Bhopal, through Indore.
“We will also invest another Rs 5,000 crore to set up a 4-million-tons-per-annum clinker unit in Chorgadi and two cement grinding units, in Dewas and Bhopal, with a combined capacity of 8-million-tons-per-annum,” he added.
In the natural resources sector, Adani Group will invest over Rs 4,000 crore – and another Rs 600 crore will be pumped in to expand the company’s presence in food processing, logistics and agri-logistics, and defence manufacturing.
“Our investment in fuel distribution, which includes CGD, LNG, EV and BIO, will exceed Rs 2,100 crore, the bulk of which will be used to strengthen our city gas distribution network in 5 geographical areas: Bhind, Burhanpur, Anuppur, Tikamgarh and Alirajpur,” Pranav Adani announced.
The Adani Group’s biggest investment will be in enhancing the state’s access to plentiful, reliable and affordable power. Close to Rs 30,000 crore will be invested to ramp up the power generation capacity, at the company’s Mahan Energen plant in Singrauli, from its current 1,200 megawatts to a massive 4,400 megawatts. The company will also invest close to Rs 28,000 crore to set up 3410 MW capacity Pumped Storage Projects.
“In all, our total planned investment of nearly Rs 75,000 crore will generate over 15,000 direct and indirect employment opportunities in a wide variety of industrial sectors across Madhya Pradesh,” Adani added.
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