Adani to invest $12.7 billion across businesses in Madhya Pradesh

The Adani Group is planning over $12.7 billion (₹1.1 lakh crore) new investments across its businesses, its chairman Gautam Adani said on Monday.

This investment will see projects from pumped storage to cement and mining to smart-meters and thermal energy, he said at an investment summit in Madhya Pradesh.

"I am proud to announce new investments of over ₹1,10,000 crore in the areas of pumped storage, cement, mining, smart-meters and thermal energy. These multi-sectoral investments will create more than 1,20,000 jobs in Madhya Pradesh by 2030," Adani said, adding that the group is also in discussions with the state government for a greenfield smart city, an airport, and a coal-gasification project that would involve an additional investment of ₹1,00,000 crore.


Adani said the group has already invested more than ₹500 billion and created over 25,000 jobs across energy, infrastructure, manufacturing, logistics, and agri-business.

Separately, Adani Power Ltd on Monday said it received approval of the Committee of Creditors for its resolution plan for Vidarbha Industries Power, a subsidiary of Reliance Power.