Adani promises to invest Rs 8,700 cr in Bihar

New Delhi: The Gautam Adani-led Group on Thursday said that the company would invest Rs 8,700 crore across various sectors in Bihar, including logistics and agro-industry. The company also expects that it would create massive direct and indirect employment for nearly 10,000 people, Adani Enterprises director Pranav Adani said on Thursday.

While speaking at Bihar Global Investors' Summit Adani said that the Adani Group is already present in Bihar, and it has invested Rs 850 crore in the state. "The investment announced today would contribute to the creation of approximately ten thousand jobs in the state. I am very happy to share that Adani Group is with the Bihar development vision of the chief minister of Bihar, Nitish Kumar," he said.

The Business Connect- 2023 is the Nitish Kumar government's outreach to business leaders to bring investment into the state and fulfil its promise to create jobs in the backward state. "We are currently present in logistics, gas distribution, and agro-logistics, generating direct or indirect employment for three thousand individuals. Now, we aim to increase our investment tenfold,” said Adani.

The Gautam Adani-led Group intends to invest in three additional sectors, creating direct or indirect employment. In the warehouse or godown sector, the company plans to invest Rs 1200 crore, generating employment for 2000 people. "Additionally, in six locations—Purnia, Begusarai, Darbhanga, Samastipur, Kishanganj, and Araria—the silo storage capacity will increase from 1.5 lakh metric tonnes to 2.75 lakh metric tonnes. Adani Agro Private Limited has already commenced work on this project with an investment of Rs. 900 crore," he said.

"Besides, the company will allocate Rs 200 crore to enhance its city gas distribution network in Gaya and Nalanda. Pranav Adani stated, "We are also planning to start producing compressed biogas and EV chargers. This initiative will create jobs for almost 1500 people in the state," Adani added.

Adani Group is also contemplating bringing Adani Wilmar to Bihar. In another venture, the company plans to enter the cement manufacturing sector, establishing manufacturing units in Warsaliganj and Mahawal with a cost of Rs 2500 crore. The goal is to produce ten million metric tonnes annually from these plants, providing employment for around 3000 people directly or indirectly.

The company is also eyeing the smart meter manufacturing sector, intending to invest Rs 3100 crore in cities like Shivan, Saran, Gopalganj, and Vaishali to install smart meters. Adani Group announced plans to install 28,000 smart meters, creating 2000 job opportunities in the state.