On Thursday, the Adani Group announced a significant commitment to amplify its investments in Bihar, aiming to increase the conglomerate’s financial commitment to the state tenfold. Pranav Adani, Managing Director (Agro, Oil and Gas) of Adani Enterprises, shared during the Bihar Business Connect 2023 event that the group plans to boost its current investment in the state from Rs 850 crore to a substantial Rs 8700 crore.
Additionally, Adani expressed the group’s intention to venture into new sectors where they currently lack a presence in the eastern state. Pranav Adani said at this event, “We will invest in three additional areas and generate 10000 direct and indirect employment opportunities.”
According to a report by ANI, the Adani Group aims to raise its godown storage capacity from 1 lakh square feet to 65 lakh square feet, with an investment of Rs 1200 crore. Two large-size godowns will come up in the state, one of which will be set up in the capital city of Patna. Moreover, the Adani Group aims to enhance its storage capacity in Purnea, Begusarai, Darbhanga, Samastipur, Kishanganj, and Araria through a substantial investment of Rs 900 crore.
Continuing his speech, Pranav Adani emphasised the group’s plans to extend its city gas network into Gaya and Nalanda, earmarking an approximate investment of Rs 200 crore. Additionally, Adani Wilmar, the FMCG arm of the conglomerate, is set to establish its presence in the state. He said, “Initially, we will start with the wheat processing unit, a solvent extractor unit, and a co-generation power unit.”
The group has outlined its commitment to allocate Rs 800 crore for the establishment of paddy processing plants in Sasaram and Rohtas. Moreover, the Adani Group representative disclosed during the event that an investment of Rs 2500 crore is earmarked for the construction of cement manufacturing plants in Warisaliganj and Mahabal. He said, “Our target is to produce 10 million tonnes of cement annually, and our investments are expected to generate about 3000 jobs.”
The third area in which the conglomerate wishes to enter is smart meter manufacturing. He said, “Now Bihar is shifting towards smart meters. We will install more than 28 lakh smart meters across Siwan, Saran, Gopalganj, Vaishali, and Samastipur to bring in automation in the power sector.” The investments in smart meter manufacturing would be about Rs 3100 crore.
RJD leader Tejashwi Yadav has criticised Adani in the past
Notably, the Bihar government of Nitish Kumar and Tejashwi Yadav has criticised the Adani Group in the past and now it is welcoming the investments by the businessman in the state. In July 2016, Tejashwi Yadav said, “Vijay Mallya has run away after looting white money from the country. Adani’s nephew has also done the same.” Congress leader Rahul Gandhi is at the forefront of attacking Gautam Adani.
In March 2023, the Enforcement Directorate claimed that it seized one crore rupees in “unaccounted cash” and detected proceeds of crime worth ₹600 crore after raids against RJD chief Lalu Prasad and his family in a money laundering case. Rejecting the assertions as ‘baseless propaganda,’ Tejashwi Yadav stated that investigative agencies are pursuing him as if he were the “real Adani,” referring to the businessman Gautam Adani. He essentially implied that Gautam Adani is the one who commits fraud and the agencies are probing him.
Now, in the Bihar Business Connect 2023 event, his government is accepting the declared investment of the Adani Group in the state. This is not the first time that opposition parties have attacked the businessman claiming that PM Modi and the BJP government in the centre favour him in different ways, and then the same opposition parties welcomed the Adani Group in the states ruled by them.
West Bengal Chief Minister Mamata Banerjee was also a vocal critic of Gautam Adani and his business. but when it came to bringing investments in her state, she welcomed the same business group. Now, Bihar ruled by RJD and JDU has joined the same league.
