Adani Group pledges additional investment of ₹8,700 cr in Bihar

Speaking at the plenary session of Bihar Business Connect-2023, a two-day global investors summit that concluded on Thursday, Adani Enterprises director Pranav Adani said the “group is already present in Bihar, where it has invested ₹850 crore.”

The Adani Group on Thursday announced that it would make an additional investment of ₹8,700 crore in Bihar in various sectors, including cement manufacturing, logistics and the agro-industry.

Bihar CM Nitish Kumar honours director of Adani Enterprises, Pranav Adani, at the Bihar Business Connect 2023 in Patna on Thursday. (Santosh Kumar/HT)

Speaking at the plenary session of Bihar Business Connect-2023, a two-day global investors summit that concluded on Thursday, Adani Enterprises director Pranav Adani said the “group is already present in Bihar, where it has invested ₹850 crore.”

“Our group has decided to invest ₹8,700 crore in additional sectors in Bihar. This will create direct or indirect employment for approximately 10,000 people in the state. Bihar is now an attractive investment destination in the country. We are currently present in logistics, gas distribution, and agro-logistics, with an investment of ₹850 crore, generating direct or indirect employment for 3,000 individuals. Now, we aim to increase our investment around 10-fold,” Adani said.

Among the proposed investment plan, the group plans cement manufacturing units in Bihar. “For this, there will be an investment of ₹2,500 crore at Warsaliganj and Mahawal and its target will be to produce 10 million metric tonnes in a year. This investment is expected to create approximately 3,000 jobs,” said Pranav.

The other proposals include augmentation of existing godown capacity, development of two large godowns, including one at Patna, a new compressed bio gas plant and EV charging center through which 1500 people will get employment.

Adani Group will also invest ₹1,200 crore to expand its warehouse capacity from the current 1 lakh sq ft to over 65 lakh sq ft. Apart from this, an investment of ₹900 crore has been made in agri-logistics to increase its storage capacity from 1.50 lakh metric tonnes to 2.75 lakh metric tonnes in six places — Purnia, Begusarai, Darbhanga, Samastipur, Kishanganj and Araria. This will also provide employment to 2,000 people.

Pranav Adani also announced that Adani Wilmar is also being brought to Bihar. In the initial phase, an investment of ₹800 crore will be made to build flour mill plant, RFM plant, solvent extraction plant, co-gen power plant as well as paddy processing plants at Sasaram and Rohtas. These plants will provide employment to 200 people.

Earlier, Bihar chief minister Nitish Kumar released the Bihar Logistics Policy 2023 and a coffee table book (of the state industries department) at the summit. Kumar, however, did not address the gathering at the event.

During the programme, a memorandum of understanding (MoU) related to investment proposals in Bihar were signed between the industries department and major companies, which included Bharat Petroleum Corporation Company, Patel Agri Industry, Indo-European Heart Hospital and Research Institution and Dev India Project.