Gautam Adani’s conglomerate to invest crores in MP after Big Investment Announcements in Katka, Odisha
January 14, 2023: New Delhi: After announcing major investments in various states, India’s richest man Gautam Adani‘s Adani group on Wednesday announced that Madhya Pradesh will invest.
It plans to invest Rs 60,000 crore. However, no timeline has been given for the investment. The port-to-energy conglomerate is looking to invest in mineral exploration, energy, agriculture, renewable energy and coal sectors.
During a one-to-one interaction with Madhya Pradesh Chief Minister Shivraj Singh Chouhan on the sidelines of the two-day Global Investors Summit (GIS) in Indore, Pranav Adani, Managing Director (Agro, Oil & Gas) and Director, Adani Enterprises, spoke about the group’s plans to invest in the state.
The Chief Minister asked him to give preference to local youth in employment to which Adani said, “It is our duty”.
PM Narendra Modi virtually inaugurated the 7th edition of the state government’s flagship event ‘Invest Madhya Pradesh-Global Investors Summit’ in Indore on Wednesday.
As part of its plan to utilize capital in the state of Madhya Pradesh, the Adani group will operate skill development centers as per its need to train the youth of the state and also plans to set up a hospital in Madhya Pradesh. CM Chauhan also apprised Adani about the opportunities to set up a food processing unit in the state.
Adani Group’s investment in other states
Before Madhya Pradesh, Gautam Adani’s group announced that it will invest Rs 1 lakh crore in Karnataka over the next 7 years.
Karan Gautam Adani, CEO of Adani Ports and SEZ Limited, made the announcement during the ‘Invest Karnataka 2022’-Global Investors Meet in November last year.
In October, the group announced plans to set up a mega 10,000 MW solar power capacity in Rajasthan over the next 5 to 7 years, expand cement plants and upgrade the Jaipur airport at Rs. 65,000 crore investment was announced.
The conglomerate in the mineral-rich state of Odisha will invest Rs. 60,000 crore will also be invested.
Adani Group’s others to invest in Madhya Pradesh
Meanwhile, Aditya Birla group head Kumar Mangalam Birla while addressing the GIS Summit also announced that his group will spend Rs. 15,000 crore is planned to be invested.
“We have old ties with Madhya Pradesh. Though it is not our birthplace, it is certainly our workplace. We are looking to invest Rs 15,000 crore in various sectors in the state in the next five years,” he said.
Presently seven businesses of Birla group are running in the state and their total investment is Rs. 60,000 crore has been crossed.
Punit Dalmia of Dalmia Bharat Group also expressed interest in setting up a cement plant, Nadir Godrej of Godrej Industries expressed interest in investing in the real estate sector in view of increasing urbanization.
ITC Group’s Sanjeev Puri said that the group will spend Rs. Plans to expand Farmer Producer Organizations (FPOs) in the state from 300 to 1,000 with an investment of Rs 1,500 crore.
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