Economy

Adani Group announces ₹10,000-crore investment in Bengal over next 10 years

BL Kolkata Bureau | Updated on: Apr 20, 2022
Adani Group Chairman Gautam Adani greets West Bengal Chief Minister Mamata Banerjee and Governor Jagdeep Dhankar during the inauguration of sixth Bengal Global Business Summit (BGBS), in Kolkata, on Wednesday

Adani Group Chairman Gautam Adani greets West Bengal Chief Minister Mamata Banerjee and Governor Jagdeep Dhankar during the inauguration of sixth Bengal Global Business Summit (BGBS), in Kolkata, on Wednesday

ITC, Tata Steel, others envisage continued interests in the State

Adani Group is looking to invest around ₹10,000 crore in West Bengal across various sectors, including port, infrastructure, data centres, warehousing and logistics parks, among others over the next 10 years. This was among the few investment commitments that the State received on the first day of the two-day Bengal Global Business Summit (BGBS) on Wednesday.

Gautam Adani, Chairman, Adani Group, said the investment would help create employment opportunities for 25,000 people.

“We are committing to bring technology and scale to create world-class infrastructure, data centres, centres of excellence for digital innovation, under-sea cable and warehousing and logistics park in West Bengal. Over the next one decade, our total investment in Bengal will exceed ₹10,000 crore,” Adani said at the inaugural session of the sixth edition of BGBS.

Investments across State

The State has received investments worth ₹12-lakh crore since the inception of BGBS, some of which are currently under various stages of implementation, said Chief Minister Mamata Banerjee. Sanjiv Puri, Chairman, ITC; Sanjiv Mehta, CEO & MD, Hindustan Unilever; TV Narendran, MD & CEO, Tata Steel; and Sajjan Jindal, Chairman and MD, JSW group of companies were some of the industrialists present at the event.

The Hiranandani Group is looking to set up a data centre in the State. Besides, it will also establish an industrial and logistics park across 100 acres of land. According to Niranjan Hiranandani, MD, Hiranandani Group, the company is also looking at investing in natural gas infrastructure across five districts in the State. He, however, he did not divulge any investment amount.

ITC, on the other hand, is looking to set up its 20 th factory in the State for manufacturing personal care products. The land has been acquired and construction is expected to start once all clearances are in place. The company has invested nearly ₹4,500 crore in the State and nearly all of them are already implemented. This includes food processing facilities at Panchla and Uluberia with a combined built-up area of over 1.2 million sq. ft.

Tata Steel said that it would continue to grow in the State, and is in the process of doubling its capacity in one of its plant at an investment of ₹600 crore. Meanwhile, Jindal said it is looking at setting up a 900 MW hydro-pumped project and also set up a steel rolling plant near Kolkata. He, however, did not reveal the investment amount.

Published on April 20, 2022
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