The Adani Group plans to invest Rs 3,500 crore towards setting up two new projects in Madhya Pradesh, Karan Adani, CEO, Adani Ports and SEZ, said on Wednesday, as the conglomerate expands its presence in the central Indian state. The group will build a 2 million tonne per annum cement grinding unit in Guna, besides setting up a propellant production plant at Shivpuri, Adani said at an industry conclave in Gwalior.
The Shivpuri facility is in line with the government’s vision of making India a defence exporter, Adani said, adding the two projects are expected to create more than 3,500 jobs directly or indirectly. The group has already invested more than `18,000 crore in Madhya Pradesh through its cement, defence, road, thermal power, renewable power and transmission businesses.
Earlier this month, group company Ambuja Cement announced setting up a six mtpa grinding unit in the Warisaliganj region of Bihar at an investment of `1,600 crore. Adani Cement is the second largest cement producer in the country. It aims to have a production capacity of 140 million tonnes by 2028, up from around 80 million tonnes currently.