Adani Group Announces ₹1,700 Crore Investment in Uttarakhand's Cement Sector

In a significant move, the Adani Group has unveiled plans to invest Rs. 1,700 crore in the cement sector in Uttarakhand, as revealed by Director Pranav Adani on Friday during a global investors summit. Addressing the gathering, Adani outlined the strategic allocation of funds, stating, "In the cement sector, we will invest Rs. 1,700 crore." This substantial investment encompasses a Rs. 300 crore expansion project for the existing Ambuja Cement plant located in the Roorkee area.

Detailing the expansion plans, Adani specified, "We will invest Rs. 300 crore to take its capacity from 1.2 million tonnes to 3 million tonnes per annum." Additionally, the Adani Group is set to inject Rs 1,400 crore to establish a new grinding unit in the state, boasting a capacity of four million tonnes. Anticipating positive economic outcomes, Adani remarked, "We expect this (our investment) will create 6,000 new direct and indirect jobs in the state."

Beyond the cement sector, the Adani Group has committed Rs 800 crore for a project in the Kumaon region, focusing on installing smart meters for the Uttarakhand Power Corporation Limited (UPCL) to replace conventional meters. Adani also revealed ongoing explorations for 1,000 acres of land in Pantnagar, considering possibilities such as infrastructure for an aero-city, an inland container depot, logistic hub, warehousing, and a knowledge park.

Expressing enthusiasm for potential engagements, Adani expressed interest in participating in the power distribution sector in the state. He emphasized Uttarakhand's strategic significance as a gateway to holy places like the Chardham shrines and highlighted the state's emergence as India's top destination for private sector investments over the past five years.

In a nod towards sustainability, Adani shared the group's proposal to convert 200 fossil fuel-run state buses into environmentally friendly Compressed Natural Gas (CNG) buses, aligning with the broader commitment to eco-friendly initiatives. The Adani Group's multi-faceted investment strategy reflects its confidence in Uttarakhand's growth trajectory and its dedication to contributing to the state's economic development.

BS