Adani to invest Rs 1700 crore in cement sector in Uttarakhand
Shishir Prashant
Dehradun, Dec 8: The Adani group is planning to invest Rs 1700 crore in the cement sector in Uttarkhand, its Director Pranav Adani said on Friday.
Speaking at a global investors summit here, Adani said “in the cement sector, we will invest Rs 1700 crore”. This includes, Rs 300 crore in expansion of the existing Ambuja Cement plant in Roorkee area. “We will invest Rs 300 crore to take its capacity from 1.2 million ton to 3 million tons per annum,” Adani said.
Besides, Adani group will also invest Rs 1400 crore to set up a new grinding unit in the state with capacity of four million tons. “We expect this (our investment) will create 6000 new direct and indirect new jobs in the state,” he said.
In Kumaon region, Adani group has taken up a project of Rs 800 crore to install smart meters for the Uttarkahand Power Corporation Limited (UPCL) to replace conventional old meters. “We are also exploring the land of 1000 acres in Pantnagar. “Possibilities in Pantnagar include infrastructure for an aero-city, an inland container depot, logistic hub, warehousing and 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 Chardham shrines. Uttarkahand has become India’s top gateway of private sector investment also. “The last five years have been 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. Ends source: business standard