Adani Group to Invest Rs 75,000 crore in Madhya Pradesh | 04 Mar 2024
Why in News?
During the Regional Industry Conclave in Ujjain, 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.
Key Points
- 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.
- 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.
- Group is also planning 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 City Gas Distribution (CGD), Liquefied natural gas (LNG), Electronic Vehicle (EV).
- The power generation capacity will also be amplifies with Rs 30,000 crore at its Mahan Energen plant in Singrauli, escalating it from the existing 1,200 megawatts to an impressive 4,400 megawatts.
The Regional Industry Conclave
- It was 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.
- 35 participating companies have collectively proposed investment projects totaling Rs 74,711 crore during the Industry Conclave.