Adani Group to invest Rs 1,700 crore in cement sector in Uttarakhand

The Adani group is planning to invest Rs 1,700 crore in the cement sector in Uttarakhand, its Director Pranav Adani said on Friday.

Speaking at a global investors summit here, Adani said, “In the cement sector, we will invest Rs 1,700 crore.” This includes Rs 300 crore in the expansion of the existing Ambuja Cement plant in the Roorkee area. “We will invest Rs 300 crore to take its capacity from 1.2 million tonnes to 3 million tonnes per annum,” Adani said.

Besides, the Adani group will also invest Rs 1,400 crore to set up a new grinding unit in the state with a capacity of four million tonnes. “We expect this (our investment) will create 6,000 new direct and indirect jobs in the state,” he said.

In the Kumaon region, the Adani group has taken up a project of Rs 800 crore to install smart meters for the Uttarakhand Power Corporation Limited (UPCL) to replace conventional old meters. “We are also exploring land of 1,000 acres in Pantnagar. Possibilities in Pantnagar include infrastructure for an aero-city, an inland container depot, logistic hub, warehousing, and a knowledge park,” said Adani. He also expressed his keenness to participate in the power distribution in the state.

Adani said Uttarakhand is a treasure trove as it is a gateway to holy places like the Chardham shrines. Uttarakhand has become India’s top gateway for private sector investment also. “The last five years have seen a rapid transformation in growth and development,” he said.

He said the group has proposed to convert 200 fossil fuel-run state buses into environment-friendly CNG buses.