The Adani Group will invest about ₹75,000 crore in Madhya Pradesh, including ₹5,000 crore in building the Mahakal Expressway between Ujjain and Bhopal, Pranav Adani, its Managing Director (Agro, Oil and Gas) and Director of Adani Enterprises, said on Friday.
Mr. Adani made the announcement on the first day of a two-day investor summit, Invest Madhya Pradesh: Regional Industry Conclave 2024, in Ujjain, in the presence of Madhya Pradesh Chief Minister Mohan Yadav. He said that investment in the State would be made in various sectors, including roads, natural resources, cement, food processing, logistics and agri-logistics, defence manufacturing, thermal power, and renewable energy.
“Our faith in your (Mr. Yadav’s) visionary leadership will see us investing close to ₹75,000 crore in Madhya Pradesh. Of this, ₹5,000 crore will be utilised to build the Mahakal Expressway from this great city Ujjain, to Bhopal, through Indore,” Mr. Adani said, addressing the gathering of business leaders.
Mr. Adani said that the group will invest close to ₹30,000 crore to ramp up power generation at its Mahan Energen plant in Singrauli district, taking it from the current 1,200 megawatt to 4,400 MW. The move, he said, aims at enhancing M.P.’s access to reliable and affordable power.
“We will also invest close to ₹28,000 crore to setup 3,410 MW-capacity pump storage projects,” he added.
Mr. Adani said that a clinker unit with a capacity of four million tonnes per annum would be established in Chorgadi, Sidhi, and one cement grinding unit each would be set up in Bhopal and Dewas, with a combined capacity of eight million tonnes annually, with an investment of ₹5,000 crore.
“In the natural resources sector, we will invest over ₹4,000 crore and another ₹600 crore to expand our presence in the food processing, logistics and agri-logistics, and the defence manufacturing sectors,” he added.
Mr. Adani also said that the group’s cumulative investments in the State currently amount to about ₹18,000 crore and claimed that it has created nearly 11,000 employment opportunities in the State.
He also highlighted the group’s investment in the State in the fuel distribution sector, including the CNG city gas distribution, LNG, EV, and biofuel businesses. The funds would be used to strengthen the city gas distribution networks in Bhind, Burhanpur, Anuppur, Tikamgarh and Alirajpur.
Mr. Adani said that the company’s planned investments in the State are likely to generate about 15,000 direct and indirect employment opportunities.
The Chief Minister also held one-on-one meetings with various business leaders, including M.V. Satish, director and senior executive vice-president of Larsen & Tourbo, and Rajeev Gulati, MD of MDH Spices.
Speaking at the inaugural ceremony, Mr. Yadav said that the two-day summit would bring in investment worth more than ₹1 lakh crore for the State.
Mr. Yadav also said that that the government would sanction land worth more than ₹15,000 crore for over 250 industrial projects that are expected to provide employment to 26,000 people across the State.
He also said that instead of holding one global summit in a large city, his government, in future, would conduct similar regional events in other cities such as Jabalpur, Rewa and Gwalior.
