Adani Group To Invest Rs 20,000 Crore For Thermal Power Plant, Says Pranav Adani
The ports-to-power conglomerate has already invested significantly in three sectors in Bihar—logistics, gas distribution and agri-logistics, Adani Enterprises Director Pranavi Adani said.
Adani Group will invest around Rs 20,000 crore to set up an ultra-supercritical thermal power plant in Bihar, said Pranav Adani, director of the conglomerate's flagship entity Adani Enterprises Ltd.
"The Adani Group is greatly encouraged by Chief Minister Nitish Kumar's vision for Bihar. There can be no other better validation of our belief, in your (Kumar's) leadership, than the humble fact that we are the largest private investor in Bihar," he said, while speaking at the Bihar Business Connect 2024 on Friday.
Pranav Adani, during his address, noted that the Adani Group has already invested Rs 850 crore in three sectors of the state—"logistics, gas distribution and agri-logistics". In the process, the group has created "25,000 direct and indirect employment opportunities", he added.
"We are now going to invest an additional Rs 2,300 crore in these sectors," he further noted. This investment will not only increase Adani Group's warehousing and handling capacity, but also expand its presence in the city gas distribution and compressed biogas segment, he added.
The fresh investment will also generate "an additional 27,000 direct and indirect local job opportunities", Pranav Adani said.
The Adani Group is also looking to potentially invest another Rs 1,000 crore in developing strategic infrastructure in Bihar, like Gati Shakti Railway terminals, inland container depots and industrial warehousing parks, he added.
"Another sector we are investing in is smart meter manufacturing. As Bihar migrates from conventional electric meters to smart meters, we will invest Rs 2,100 crore to manufacture and install over 28 lakh smart meters to automate power-consumption-monitoring in five cities—Siwan, Gopalganj, Vaishali, Saran and Samastipur—and this will generate at least 4,000 local jobs in this technology segment," the senior Adani Group official said.
The company's cement plants in the state will also be expanded to 10 million tonnes per annum capacity with an investment of Rs 2,500 crore in multiple phases, he further added.
"We are also exploring investment avenues in Bihar's energy sector. Our plan is to invest around Rs 20,000 crore to set up an ultra-supercritical thermal power plant," he noted.
"We expect such a massive project to open up at least 12,000 job vacancies in the pre-commissioning phase and also lead to around 1,500 skilled jobs during the operational phase,” Pranav Adani added.
Notably, this is the second edition of the Bihar Business Connect summit, being held in state capital Patna. The two-day event began on Thursday, with participants from around 80 countries attending it.
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