Adani Group to invest Rs 600 billion in MP over the next few years

The Adani Group will invest over Rs 600 billion in a number of sectors in Madhya Pradesh that would create thousands of jobs. This would reshape the economy of several districts in the state, said Pranav Adani, director at Adani Enterprises, at the seventh Madhya Pradesh Global Investors Summit. Currently, the group has investments of close to Rs 275 billion in sectors such as power generation and transmission, gas distribution, cement manufacturing and agro processing, among others, in the state. He said that sectors and projects that the group plans to invest in include four-laning of a part of NH-47, a gas link project and a micro-irrigation system. It plans to set up mega food parks and six multi-modal logistics parks in Dhar, Guna, Damoh, Ujjain and two in Indore. The multi-modal parks will be set up with an investment of Rs 52.50 billion, Adani said. He further added that as the second-largest cement manufacturer in the country now, the group only has a manufacturing plant in Katni district. It is planning to set up three more plants in Ametha, Dewas and Bhopal. “The total investment in the three plants will be around Rs 35 billion. This will almost triple cement manufacturing in the state to 7.5 million tonne per annum (MTPA),” Adani said. He said that the Adani Group will invest close to Rs 390 billion on renewable energy. It will set up a major pump storage hydro project with an investment of Rs 150 billion. Meanwhile, among other investment proposals announced at the summit, Reliance Industries will invest another Rs 406 billion on telecom, multi-gigawatt renewal projects and retail outlets in the state. At present, the group’s total investment in the state is estimated to be around Rs 225 billion. The Aditya Birla Group said it will invest Rs 150 billion over five years across sectors. The JSW Group plans to set up a fully-integrated cement plant in MP with an investment of Rs 36 billion. JSW Paints plans to invest Rs 45 billion in paint manufacturing units. Also, ITC announced investments of Rs 15 billion in setting up 1,000 farmer-producer organisations (FPOs) in the state. It is also planning to set up a packaging and food processing unit in the state, its chairman Sanjeev Puri said at the summit. Also Read India plans to invest 350 billion by 2047 to build a network of canals Centre to seek bids for green hydrogen manufacturing plants