Adani Group to invest ₹75,000 crore in Madhya Pradesh; to create employment for 15,000 people

The Adani group is planning to invest ₹75,000 crore in Madhya Pradesh across sectors such as power generation, pump storage, cement and other sectors providing direct and indirect employment to around 15,000 people.

• Also read: Adani Group tying up ₹60,000-crore funding from Indian lenders

Announcing the massive investments at a Regional Industry Conclave in Ujjain, Madhya Pradesh, Pranav Adani, Director, Adani Enterprises, said, “I see infinite possibilities for infinite growth – especially in energy and infrastructure – and the Adani Group is excited about investing in Madhya Pradesh.”

So far, the group has invested about ₹18,000 crore in the state creating 11,000 jobs, but now it intends to ramp up its investments.

Of the total planned investment, the biggest chunks will be in the power generation sector to provide the state with steady and reliable power, Adani said. The group will be investing close to ₹30,000 crore to ramp up the power generation capacity, at its Mahan Energen plant in Singrauli, from its current 1,200 megawatts to 4,400 megawatts. In 2022 Adani Power had acquired this facility from the Essar group for over Rs 4200 crore in a bankruptcy process.

It will also invest around ₹28,000 crore to set up 3,410 MW capacity pumped storage projects in MP.

In the road sector, ₹5,000 crore will be utilized to build the Mahakaal Expressway connecting Ujjain to Bhopal through Indore. Another ₹5,000 crore will be invested 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.

• Also read: Adani Group’s 12-month trailing EBITDA up 34.4 per cent y-o-y

In the natural resources sector, Adani said that the group would invest over ₹4,000 crore and ₹600 crore to expand its presence in food processing, logistics and agri-logistics, and defence manufacturing.

Over ₹2,100 crore will be invested in fuel distribution, the bulk of which will be used to strengthen the city gas distribution network in five areas of Bhind, Burhanpur, Anuppur, Tikamgarh and Alirajpur.

In January, the Adani group had committed to investing ₹42,700 crore in Tamil Nadu, and over ₹2 lakh crore in Gujarat.

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