Business News
After Mukesh Ambani, now Adani Group to invest in West Bengal
Announcing the company’s investments plans for the state, Pranav Adani said, “Currently our investments in West Bengal are Rs 750 crores and we expect to double the investment in next five years."
Following in the footsteps of Mukesh Ambani’s Reliance Industries Limited, now Adani Group has decided to invest in Bengal. Speaking on the concluding day of Bengal Global Business Summit (BGBS), Pranav Adani MD, Adani Wilmar (part of the Adani Group), announced that it would invest RS 750 crore in West Bengal in various sectors such as port, power and agri sectors.
“We at the Adani Group run the largest network of ports in the nation. Given Bengal’s position as the gateway…. connecting South East Asia and North East India, we look forward to bring in our expertise to the state of West Bengal. We believe we can revolutionise the entire port scenario in the state and make it a massive driver to the economic growth. If given an opportunity, we would like to replicate our Mundra port that we have in Kutch in West Bengal,” Pranav Adani announced in the presence of chief minister Mamata Banerjee and other delegates at Biswa Bangla Convention Centre.
“The Adani Group also runs the largest private network of power plants and transmission circuits in the country. Our portfolio includes thermal as we as solar power plants. Given an opportunity we can further enable the energy scenario in the state by bringing to the forefront our renewable power and transmission expertise in addition to our thermal power generation capabilities. We also run the largest agriculture business in the country. West Bengals is already a critical part of this success. At this point we have already created over 4,500 direct and indirect jobs in West Bengal. This is an increase of over 50 per cent over last five years,” he added.
On Tuesday, Reliance Industries Limited chairman Mukesh Ambani announced that reliance will manufacture mobile phones and set top boxes in West Bengal and will invest additional Rs 5000 crore in non-Jio business across the state in next three years.
Announcing the company’s investments plans for the state, Pranav Adani said, “Currently our investments in West Bengal are Rs 750 crores and we expect to double the investment in next five years. Over past five years, we have also doubled up our capacity from 800 metric tonnes to 1600 metric tonnes per day, making our edible oil refinery in Haldia one of the largest in the country. We expect a further doubling of our capacity over the next five years. We currently distribute to over 36,000 retail outlets in West Bengal and expect this footprint to double in next five years.”
Adani added, “In addition to manufacturing and packaging, we are also planning to bring in our large expertise in agri-logistic and warehousing that is expected to directly benefit the farmers of West Bengal.”
