 "Madhya Pradesh Chief Minister Mohan Yadav during the inauguration of Madhya Pradesh Investor Summit, in Ujjain, Friday, March 1, 2024. Photo: PTI")
Madhya Pradesh Chief Minister Mohan Yadav on Friday expressed the hope that the Regional Investor Conclave, being held in Ujjain, would draw in investment worth over Rs 1 trillion in the state.
Of this, Adani Group has promised to put in Rs 75,000 crore.
Addressing industry leaders, Yadav said the fact that this event was being held in Ujjain and not Indore, where it had always taken place earlier, showed the commitment of the government to ensure all-round development.
He said similar conclaves would be held in Jabalpur, Gwalior, and Rewa.
Yadav took over from Shivraj Singh Chouhan in December after election victory.
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Meanwhile, the director of Adani Enterprises, Pranav Adani, said the planned investment of Rs 75,000 crore would generate 15,000 direct and indirect jobs.
“Rs 5,000 crore will be utilised to build the Mahakaal Expressway, from Ujjain to Bhopal, through Indore. Another Rs 5,000 crore will be used to set up a clinker unit of four million tonnes per annum in Chorgadi and two cement-grinding units, in Dewas and Bhopal, with a combined capacity of eight million tonnes per annum,” Adani said.
He said over Rs 4,000 crore would go to natural resources and another Rs 600 crore would be invested in food processing, logistics and agri-logistics, and defence manufacturing.
Adani said the group’s biggest investment would be in enhancing Madhya Pradesh’s access to plentiful, reliable, and affordable power.
“Investment close to Rs 30,000 crore is being made to ramp up power generation capacity at the Mahan Energy plant, in Singrauli, from its current 1,200 Mw to 4,400 Mw. Adani Group will invest close to Rs 28,000 crore to set up pumped storage projects of 3,410 Mw,” Adani said.
Yadav issued land-allotment letters of around 508 hectares to nearly 250 industrial houses. Those promise almost 20,000 new jobs in the state.
Investment envisaged in these units is close to Rs 12,170 crore.
He also held simultaneous ground-breaking ceremonies remotely for 61 industrial units spread across the state. Those together commanded an investment of Rs 10,064 crore.
Yadav was joined by local legislators and state units of companies that were allocated land.
He said under the leadership of Prime Minister Narendra Modi, India’s gross domestic product growth was dazzling the world, which saw the country as “a beacon of hope”. He said the world and Madhya Pradesh were looking towards industrialists with hope and vision.
Earlier, addressing the gathering, Micro, Small and Medium Enterprises (MSMEs) Minister Chaitanya Kashyap said there were around 35 industrial clusters in the state and the ongoing scheme of 40 per cent capital subsidy for MSMEs was becoming popular.
