Adani Group has planned to invest Rs 20,000 crore in setting up a super critical thermal power plant in Bihar. The development comes amid its plans for expands its cement, food processing and logistics business in the state.
Pranav Adani, Director, Adani Enterprises Ltd, while speaking at the Bihar Business Connect 2024, said the ports-to-energy conglomerate is invested in three sectors in Bihar – logistics, gas distribution and agri logistics, where it has already invested around Rs 850 crore.
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“We are now going to invest another Rs 2,300 crore in these sectors. This investment will not only massively increase our warehousing and handling capacity and expand our presence in the EV, city gas distribution (CGD) and compressed biogas (CBG) space but will also generate an additional 27,000 direct and indirect local job opportunities,” he said.
He said that another sector that the group is 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,” he said.
He also shared that the group is looking to potentially invest another Rs 1,000 crore in developing strategic infrastructure in Bihar, like Gati Shakti Railway Terminals, ICDs (Inland Container Depots) and Industrial Warehousing Parks.
“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 said. “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,” he added.
At the stock market, the Adani Enterprises shares were trading on a lower side. Adani Enterprises fell more than 1 per cent to an intra-day low of Rs 2,388.
