Adani Group will invest around Rs 75,000 crore in Madhya Pradesh across segments including road, cement, natural resources, thermal power, renewable energy, and power transmission, said Pranavi Adani, Managing Director (Agro, Oil & Gas) and Director, Adani Enterprises.
Adani was speaking at the two-day investor summit, the Regional Industry Conclave, that kicked off in Ujjain, Madhya Pradesh on Friday.
The event will see participation from leading industrialists and entrepreneurs from across the country.
Of the Rs 75,000 crore, Adani Group will invest Rs 5,000 crore to build the Mahakaal Expressway from Ujjain, to Bhopal, through Indore.
“We will also invest another Rs 5,000 crore to set up a 4-million-tons-per-annum clinker unit in Chorgadi and two cement grinding units, in Dewas and Bhopal, with a combined capacity of 8-million-tons-per-annum,” Adani added.
In the natural resources sector, the group will invest over Rs 4,000 crore – and another Rs 600 crore to expand its presence in food processing, logistics, and agri-logistics, as well as defence manufacturing.
The group will also invest Rs 2,100 crore in expanding its city gas distribution network in five geographical areas: Bhind, Burhanpur, Anuppur, Tikamgarh, and Alirajpur. It will also expand operations in liquefied natural gas, electric vehicles, and bio-energy segment.
Around Rs 30,000 crore will be invested to ramp up the power generation capacity, at Adani Power’s Mahan Energen plant in Singrauli, from its current 1,200 megawatts to a massive 4,400 megawatts. “We will also invest close to Rs 28,000 crore to set up 3410 MW capacity Pumped Storage Projects,” said Adani, adding that these investments will generate over 15,000 direct and indirect employment opportunities across Madhya Pradesh.
Adani Enterprises’ scrip ended at Rs 3317.80, up 0.83% on the BSE, Friday. Benchmark Sensex ended 1.72% higher.