Top Adani official meets Punjab CM to discuss investment opportunities in the state

PTI

A top Adani Group official today met Chief Minister Captain Amarinder Singh and evinced interest in expanding investments in Punjab.

President and chairman of several key companies of the Gujarat-based group, Pranav V Adani, met Chief Minister Captain Amarinder Singh here today to discuss possible areas of investment in Punjab.

The Group already runs a solar power generation unit in Bhatinda in Punjab and has expressed interest in expanding presence in the state to several other important areas of progress and development, an official spokesperson said after the meeting.

The Chief Minister invited Adani to share a brief on the various possible areas of cooperation with the state. Captain Amarinder Singh welcomed the possibility of greater investment by the Group in the state, saying the diverse business interests of Adani’s could give a much-needed boost to the state’s development agenda.

The Chief Minister pointed out that his government is already in the process of working on a new industrial policy for Punjab, as described in his party’s election manifesto.

Singh expressed confidence that the new industrial policy would make the industrial environment in the state even more amenable to investments by major industrial and business groups.

Adani briefed the Chief Minister on multiple businesses of the Group.

Besides, being the largest power generator (coal-based, solar and wind) in India, the Group also has the largest power transmission network in the country.

Adani Green Energy Ltd had in 2016, commissioned Punjab's largest solar power plant of 100 MW in Bhatinda with an investment of Rs.640 crore.

Another area of the Group's business is coal mining and trading, which has made it the largest coal trader in India.

Adani is also building the world’s largest export coal mine in Australia with an ultimate capacity of 60 mmtpa.

Adani Enterprise Ltd has supplied around 0.5 MT of coal to Punjab's thermal power plants and is interested in growing the business manifold.

In addition, Adani Agri logistics Ltd has 2,00,000 MT capacity of grain storage silos for FCI at Moga with an investment of Rs.250 crore and has projects worth Rs.210 crore under implementation for FCI and Punjab government.

Agri Logistics is part of Agri-business (Fortune edible oil and FMCG line of products) and includes grain silos.

Adani told the Chief Minister that the Group’s businesses, which also include real estate and city gas distribution (CNG and pipeline network), have a huge potential to scale up the state’s progress.

The Group’s emerging businesses, such as water purification, defence & aerospace, drone manufacture etc, also find synergies with the state s public welfare and strategic growth interests, Adani further informed the Chief Minister.

Besides, being the Managing Director of Adani Wilmar Limited, Pranav Adani serves as MD & Chairman of the Board of Adani Agri Fresh Limited.

He is also the Chairman of the Board at Adani Agri Logistics Limited and Adani Logistics Limited.