Adani Group investment to soar

The Adani Group will invest over INR600,000m (US$7.4m) in a number of sectors in Madhya Predesh  that would create thousands of jobs. This would reshape the economy of several districts in the state, said Pranav Adani, director at Adani Enterprises, at the seventh Madhya Predesh Global Investors Summit.

Currently, the group has investments of close to INR275,000m in sectors such as power generation and transmission, gas distribution, cement manufacturing and agro processing, among others, in the state.

The group only has one manufacturing plant in Katni district but is planning to set up three more plants in Ametha, Dewas and Bhopal. “The total investment in the three plants will be around INR35,000m. This will almost triple cement manufacturing in the state to 7.5Mta,” Mr Adani said.

He said that the Adani Group will invest close to INR390,000m on renewable energy. It will also set up a major pump storage hydro project with an investment of INR150,000m.