Adani Group to make additional investment of Rs 8,700 Crore in Bihar

PATNA : The Adani Group on Thursday said it would make an additional investment of Rs 8,700 crore in Bihar in various sectors, including cement manufacturing, logistics and the agro-industry. The group is already present in Bihar, where it has invested Rs 850 crore, said Mr. Pranav Adani, Director, Adani Enterprises.

He was speaking at the Bihar Business Connect-2023, a two-day global investors summit that concluded on Thursday.

“Our group has decided to invest Rs 8,700 crore in additional sectors in Bihar. This will create direct or indirect employment for approximately 10,000 people in the state,” Mr. Adani said.

The summit also saw the State Government signing MoUs with Bharat Petroleum for an investment of over Rs 7,000 crore, with Patel Agri for investment of over Rs 5,200 crore, with Holtech International for investment of over Rs 2,200 crore, and with Indo European Heart Hospitals & Research Institute for over Rs 2,000, among others. As many as 300 companies signed MoUs.

Mr. Kamal Oswal, Chairman-cum-Managing Director of Nahar Group of Industries, said his group is building a logistics park in Bihar at a cost of Rs 300 crore.

Bihar Chief Minister Shri Nitish Kumar released the Bihar Logistics Policy 2023 and a coffee table book (of the state industries department) at the summit on Thursday. The policy aims at providing “international-standard” infrastructure facilities for industrial and social growth.

“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 Rs 850 crore, generating direct or indirect employment for 3,000 individuals. Now, we aim to increase our investment around 10-fold,” Mr. Pranav Adani said.

Giving details about the plan of future investments in the state, he said that in the warehouse sector, the company plans to pump in Rs 1,200 crore, generating employment for 2,000 people.

The districts that will covered include Purnea, Begusarai, Darbhanga, Samastipur, Kishanganj, and Araria.

The group will also allocate Rs 200 crore to enhance its city gas distribution network in Gaya and Nalanda, Adani said.

“We are planning to start producing compressed biogas and EV chargers. This initiative will create jobs for almost 1,500 people in the state. The Adani Group is also contemplating bringing Adani Wilmar to Bihar,” he said.

The company has plans to enter the cement manufacturing sector, too, establishing units in Warsaliganj and Mahawal at a cost of Rs 2,500 crore.

Adani also hailed the Bihar government for its developmental and social schemes.