Published On:March 2 2024
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Adani Group's ₹75,000 Crore Investment in Madhya Pradesh Set to Generate Jobs for 15,000 People

Adani Group's ₹75,000 Crore Investment in Madhya Pradesh Set to Generate Jobs for 15,000 People

The Adani Group has set its sights on a monumental investment of ₹75,000 crore in Madhya Pradesh, spanning diverse sectors including power generation, pump storage, cement, and others. This expansive initiative is projected to create employment opportunities for approximately 15,000 individuals, both directly and indirectly.

Pranav Adani, Director of Adani Enterprises, made the announcement during a Regional Industry Conclave held in Ujjain, Madhya Pradesh. Expressing optimism about the state's potential for growth, he emphasized the Adani Group's eagerness to contribute significantly to Madhya Pradesh's development.

The group has already invested approximately ₹18,000 crore in the state, generating 11,000 jobs. However, this latest endeavor signals a substantial escalation in their commitment to Madhya Pradesh's economic landscape.

A significant portion of the planned investment will be allocated to bolstering power generation capacity. Adani Group intends to invest nearly ₹30,000 crore to enhance the output of its Mahan Energen plant in Singrauli from the existing 1,200 megawatts to 4,400 megawatts. This move follows the group's acquisition of the facility from the Essar group in 2022, underscoring their strategic expansion in the energy sector.

Furthermore, the group plans to channel approximately ₹28,000 crore into the development of pumped storage projects with a combined capacity of 3,410 megawatts, reinforcing its commitment to sustainable energy solutions.

In infrastructure development, a sum of ₹5,000 crore will be dedicated to constructing the Mahakaal Expressway, linking Ujjain to Bhopal via Indore. Additionally, investments totaling ₹5,000 crore will facilitate the establishment of a 4-million-tons per-annum clinker unit in Chorgadi, along with two cement grinding units in Dewas and Bhopal, collectively capable of producing 8 million tons per annum.

The Adani Group's foray into natural resources will see investments exceeding ₹4,000 crore, focusing on sectors such as food processing, logistics, agri-logistics, and defense manufacturing. Moreover, an allocation of ₹600 crore is earmarked for expanding their footprint in these strategic domains.

Fuel distribution will also witness a substantial infusion of capital, with over ₹2,100 crore slated for investment. A significant portion of this fund will be directed towards strengthening the city gas distribution network across Bhind, Burhanpur, Anuppur, Tikamgarh, and Alirajpur.

This ambitious investment plan for Madhya Pradesh follows similar commitments made by the Adani Group in other states. In January, the conglomerate pledged ₹42,700 crore for Tamil Nadu's development and announced investments exceeding ₹2 lakh crore in Gujarat, underscoring its commitment to driving economic growth and development across the country.

HBL





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