The Adani Group has proposed to invest ₹3,500 crore in Madhya Pradesh’s Gwalior-Chambal region in the defence sector as well as set up a 2 million-tonne cement grinding unit, it announced at the State government’s investor summit in Gwalior on Wednesday (August 28, 2024).
The investment, expected to generate more than 3,500 employment opportunities, will be made by Adani Ports and Special Economic Zone Ltd (APSEZ), its managing director (MD) Karan Adani said at the Regional Industry Conclave (RIC).
While the cement grinding unit will be established in Guna district, Shivpuri district will see the company investing in a propellent project. Apart from this, the group will also set up a women-operated jacket factory in Shivpuri’s Badarwas, Mr. Adani announced.
“I am proud to announce our contribution with two new projects: a 2 million-tonne cement unit in Guna and a propellant production unit in Shivpuri. The Shivpuri facility aligns with the Atmanirbhar Bharat mission, transforming India from a defence importer to an exporter. These projects represent a total investment of ₹3,500 crore and will create over 3,500 jobs,” Mr. Adani said.
He also said that the Adani Group had already invested ₹18,250 crore in the State and generated over 12,000 jobs, including a small arms defence production plant in Gwalior.
Third event
The summit in Gwalior is the third such event hosted by the Madhya Pradesh government, aimed at attracting investment in the State. Earlier, similar summits were organised in Ujjain and Jabalpur, while others are scheduled in Rewa and Sagar in the coming months, followed by a mega global investor summit in capital Bhopal in February.
In the first RIC in Ujjain in March, the Adani group had announced investment worth ₹75,000 crore in various sectors, including roads, natural resources, cement, food processing, logistics and agri-logistics, defence manufacturing, thermal power and renewable energy.
The Jabalpur leg of the summit also saw the State receiving investment proposals worth ₹17,000 crore.
The latest event in Gwalior, as per the government, attracted business proposals worth over ₹8,000 crore, with the potential to generate more than 35,000 direct and indirect jobs in the State.
The significant proposals include a renewable energy and biogas project by the Reliance Group that can generate 2,000 jobs; ₹350 crore in the finance and IT sectors by OFB Tech with generation of 15,000 employment opportunities; and ₹750 crore investment in technical textile sector by SSG Furnishing Solutions, which can present 9,000 jobs for youth.
Apart from this, Tropilite Foods, a Gwalior-based bakery and dairy product brand, also promised to generate 500 employment opportunities for women with a fresh investment of ₹100 crore in the State.
Union Minister Jyotiraditya Scindia and State Assembly Speaker Narendra Singh Tomar, both from from the region, were among the leaders present at the event.
At least 47 industrial units with investment worth ₹1,586 crore were also virtually inaugurated or their foundation was laid at the event.
Mr. Yadav and other dignitaries also distributed letters of intent to 120 industrial units to allocate 268 acres of land. Investments of ₹1,680 crore are proposed, aimed at generating 6,600 employment opportunities.
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