Bihar MoUs Garner ₹50,000 Crore in Investments, Adani Commits ₹8,000 Crore

Adani Enterprises is set to make a substantial investment of approximately Rs. 8,000 crore in Bihar, contributing to the overall investment proposals totaling over Rs. 50,500 crore following various memorandums of understanding (MoUs) inked during the two-day Bihar Business Connect summit in Patna.

The summit witnessed the State Government entering into MoUs with several entities, including Bharat Petroleum for an investment exceeding Rs. 7,000 crore, Patel Agri for an investment of over Rs. 5,200 crore, Holtech International for an investment surpassing Rs. 2,200 crore, and Indo European Heart Hospitals & Research Institute for an investment exceeding Rs. 2,000 crore, among others. A total of 300 companies participated, signing MoUs.

Pranav Adani, Director of Adani Enterprises, revealed the group's plans to amplify its investment in Bihar from the existing Rs. 850 crore to over Rs. 8,000 crore. He announced the group's venture into the cement industry in the state, along with investments in a logistics park.

Kamal Oswal, Chairman-cum-Managing Director of Nahar Group of Industries, shared that his group is actively engaged in constructing a logistics park in Bihar, involving an expenditure of Rs 300 crore. Hasmukh Ranjan, Chief Information Officer of AMD, expressed optimism about Bihar emerging as a prime destination for the IT sector, citing the abundance of talent, infrastructure, and willpower in the state.

During the summit, Sameer Kumar Mahaseth, the State's Industry Minister, emphasized three key demands to propel growth. He advocated for an agreement on water management with Nepal to mitigate the impact of floods caused by rains in the region. Additionally, he called for special state status for Bihar and inclusion in the Special Economic Zone to further accelerate economic development.

Mahaseth highlighted Bihar's youthful demographic, with 53 percent of the population under 35, and underscored the state's progress in electricity, water, and road infrastructure. He emphasized the government's coordinated efforts across 12 departments to support entrepreneurs, with 3,000 acres available for industry and plans to expand the land bank by another 3,000 acres.

Sandeep Poundrik, Additional Chief Secretary of the Industry Department, emphasized the ease of setting up industries in Bihar, citing the presence of a market, raw materials, infrastructure, workforce, and government support. He highlighted attractive subsidies and incentives provided to entrepreneurs through the state's industrial policies.

HBL