Adani Group to invest Rs 75,000 crore in Madhya Pradesh: Pranav Adani

The Adani Group has announced a substantial investment of Rs 75,000 crore in Madhya Pradesh, signaling a significant expansion of its financial commitment to the state. Pranav Adani, Director of Adani Enterprises Ltd., revealed this plan during the inaugural session of the Regional Industry Conclave in Ujjain. 

A notable portion of this augmented investment, amounting to Rs 5,000 crore, will be dedicated to the development 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 expressed admiration for Prime Minister Narendra Modi's leadership, emphasizing the PM's dedication to elevating the nation to new heights. He highlighted Madhya Pradesh as the heart of the country and envisioned a promising future for the state. Adani commended the leadership of Dr. Mohan Yadav, foreseeing a significant role for Madhya Pradesh in realizing the nation's aspirations under his guidance.

Additionally, the Adani Group is earmarking an additional Rs 5,000 crore for the establishment of a 4-million-tons-per-annum clinker unit in Chorgadi. Furthermore, the group plans to set up two cement grinding units in Dewas and Bhopal, boasting a combined capacity of 8 million tons per annum, with an investment of Rs 5,000 crore.

"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 shared that the Adani Group is gearing up for substantial investments in fuel distribution, surpassing Rs 2,100 crore. This investment will predominantly focus on fortifying the city gas distribution network in five geographical areas, namely Bhind, Burhanpur, Anuppur, Tikamgarh, and Alirajpur, covering CGD, LNG, EV, and BIO. 

He emphasized that the group's most significant investment will be directed towards bolstering Madhya Pradesh's access to abundant, reliable, and affordable power. To achieve this, the Adani Group will inject close to Rs 30,000 crore to amplify the power generation capacity at its Mahan Energen plant in Singrauli, escalating it from the existing 1,200 megawatts to an impressive 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 Adani highlighted that the envisioned investment of approximately Rs 75,000 crore in Madhya Pradesh is poised to catalyze the creation of more than 15,000 direct and indirect employment opportunities.

"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 Regional Industry Conclave, a two-day Investor Summit, commenced in Ujjain, Madhya Pradesh, encompassing 20 districts such as Bhopal, Ujjain, and Indore. A total of 56 projects are anticipated to draw investments surpassing Rs 74,000 crore, with the potential to generate employment for over 17,000 individuals. Currently, 35 participating companies have collectively proposed investment projects totaling Rs 74,711 crore during the Industry Conclave.

The current proposed investment figure is projected to increase as the conclave progresses. More than 800 investors, including 30 foreign delegates, are expected to participate in the event. Instead of solely focusing on major industrialists for Memorandum of Understanding (MOU) signings, the government is prioritizing the realization of as many projects as possible. Consequently, preference is being given to companies and individual investors ready to make immediate investments.