PATNA: The Adani Group on Thursday announced that it will increase its investment in the state by 10 times and take it to Rs 8,700 crore by exploring some of the untouched sectors like warehouse and paddy processing. The Group said it would also launch the operations of Adani Wilmar, a food and beverage conglomerate, in the state.
Pranav Adani, managing director (agro, oil and gas) and director of Adani Enterprises, who was sharing the dais with chief minister Nitish Kumarat Global Investors’ Summit, said the Group has already invested around Rs 850 crore in the state.“We will now take our investments in the state to Rs 8,700 crore. Around 10,000 people will be directly or indirectly employed inBihar through these investments,” he added.
The Group’s move comes some eight months after the JD(U) severely criticized the Narendra Modi government for maintaining silence over the Hindenburg Research’s allegations against Adani Even though Nitish’s JD(U) welcomed the move, the CM maintained a stoic silence.
One of the sectors which Adani Group will tap is warehouse in which it will invest Rs 1,200 crore. “Two godowns will come up in Bihar, including one in Patna. The storage capacity will be increased in Purnia, Begusarai, Darbhanga, Samastipur, Kishanganj and Araria,” Pranav added.
He said the paddy processing plant would be set up at Sasaram in Rohtas, with an investment of Rs 800 crore. “We will take our investments in cement industry to Rs 2,500 crore Pranav said. He announced expansion of gas distribution in Gaya and Nalanda, with investment of Rs 200 crore.
Pranav Adani, managing director (agro, oil and gas) and director of Adani Enterprises, who was sharing the dais with chief minister Nitish Kumarat Global Investors’ Summit, said the Group has already invested around Rs 850 crore in the state.“We will now take our investments in the state to Rs 8,700 crore. Around 10,000 people will be directly or indirectly employed inBihar through these investments,” he added.
The Group’s move comes some eight months after the JD(U) severely criticized the Narendra Modi government for maintaining silence over the Hindenburg Research’s allegations against Adani Even though Nitish’s JD(U) welcomed the move, the CM maintained a stoic silence.
One of the sectors which Adani Group will tap is warehouse in which it will invest Rs 1,200 crore. “Two godowns will come up in Bihar, including one in Patna. The storage capacity will be increased in Purnia, Begusarai, Darbhanga, Samastipur, Kishanganj and Araria,” Pranav added.
He said the paddy processing plant would be set up at Sasaram in Rohtas, with an investment of Rs 800 crore. “We will take our investments in cement industry to Rs 2,500 crore Pranav said. He announced expansion of gas distribution in Gaya and Nalanda, with investment of Rs 200 crore.