Ujjain (Madhya Pradesh): The Adani Group will invest Rs 75,000 crore in Madhya Pradesh, furthering its investments in the state, Pranav Adani, the director of Adani Enterprises Ltd. said on Friday.
Pranav Adani, while speaking at the inaugural session of the Regional Industry Conclave in Ujjain said that the Adani group intends to double its investments in the state.
He further said that a significant portion of this increased investment, totaling Rs 5,000 crore, will be allocated towards the construction of the Mahakal Expressway.
"I am delighted to announce that not only will the Adani Group continue investing in these diverse sectors but we will also more than double our investment in Madhya Pradesh, and contribute in our own humble way to the state's all-round development. Our faith in your visionary leadership will see us investing close to Rs 75,000 crore in Madhya Pradesh. Of this, Rs 5,000 crore will be utilized to build the Mahakaal Expressway from this great city Ujjain, to Bhopal, through Indore," he said.
Pranav Adani further lauded the leadership of Prime Minister Narendra Modi and said that the PM is working hard to take this nation to the pinnacle of glory.
"Madhya Pradesh is the heart of the country, and I have no hesitation in saying that the future belongs to Madhya Pradesh. Our successful Prime Minister, Narendra Modi, is working hard to take this nation to the pinnacle of glory. It is clearly visible that under the leadership of Dr. Mohan Yadav, Madhya Pradesh will play a significant role in fulfilling this commitment."
He also said that the group 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.
"In the natural resources sector, we will invest over Rs 4,000 crore - and another Rs 600 crore to expand our presence in food processing, logistics and agri-logistics, and defence manufacturing," he added.
Pranav Adani further said that the investment by the Adani Group 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.
Adding further, he said that the Adani Group's biggest investment will be in enhancing the state's access to plentiful, reliable and affordable power. We will invest close to Rs 30,000 crore to ramp up the power generation capacity, at its 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 3410 MW capacity Pumped Storage Projects," he added.
Pranav further claimed that the 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.
"Currently, our presence in Madhya Pradesh spans 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," he added.
The two-day Investor Summit, named the Regional Industry Conclave, kicked off today in the city of Ujjain, Madhya Pradesh.
This initiative spans across 20 districts of the state, including Bhopal, Ujjain, and Indore. 56 projects are expected to attract investments exceeding Rs 74,000 crore, creating employment opportunities for over 17,000 individuals.
At present, investment proposals totaling Rs 74,711 crore have been agreed upon by 35 companies participating in the Industry Conclave. This figure is expected to rise further during the conclave. Over 800 investors are slated to attend the event, with 30 foreign delegates also joining. Rather than solely targeting major industrialists for MOU signings, the government is emphasising the actualization of as many projects as possible. Accordingly, priority is being given to companies and individual investors prepared to invest immediately.
—ANI