After Uttarakhand, Adani Group Picks Bihar As Next Investment Destination; 10k People To Get Jobs

Adani group stocks grabbed attention on Friday after media reports quoted Adani Enterprises director Pranav Adani as saying that the Gautam Adani-led Indian conglomerate is planning to invest around Rs 8,700 crore in Bihar across different sectors. This investment decision by the group is expected to create 10,000 direct and indirect employment opportunities for people.

This was revealed by Pranav Adani while addressing the plenary session of Bihar Business Connect 2023, the Nitish Kumar-led Bihar government's outreach to business leaders to bring investment into the state and fulfill its promise to create employment opportunities in the backward state.

Addressing the event, Adani said Bihar is now seen as an attractive investment destination. "The change is visible, especially in social reforms, law and order situation, literacy and women empowerment," he said.

Adani said that in Bihar, the group has invested Rs 850 crore in logistics, gas distribution, and agri logistics, creating direct and indirect jobs for 3,000 people.

He said the group was planning to invest Rs 1200 crore to set up warehousing on 150 acres. One big godown will be created in Patna, which will create jobs for 2,000 people.

In addition, six other places in the state where the group is planning to invest include - Purnia, Begusarai, Darbhanga, Samastipur, Kishanganj, and Araria. The Adani group was planning to set up EV-charging stations in the state.

Adani said, "Bihar is now an attractive investment destination in the country. We are currently present in logistics, gas distribution, and agro-logistics, with an investment of Rs 850 crore. Now, we aim to increase our investment around 10-fold."

Adani group stocks traded mixed on Friday. The share price of Adani Total Gas today tumbled 0.19% at Rs 1049.30 per share at 10:46 am IST. Adani Enterprises shares were up 1.44% at Rs 2935.70 per share at 10:47 am IST, Adani Energy Solutions Shares were down 0.68% at Rs 1067.50 per share and Adani Green Energy stock price was up 0.57% at 1518.00 per share.

Adani Group's Rs 2.5k Crore Investment In Uttarakhand To Generate 6,000 Jobs In Rishikesh-Dehradun Area
Last week, according to a PTI report, group director Pranav Adani said at a global investors summit that the group is looking to invest more than Rs 2,500 crore in Uttarakhand in expanding the capacity of cement plants and installing smart electricity meters as it also exploring possibilities to develop aero-city and knowledge city in the state.

These investments by the group in Uttarakhand will generate around 6,000 direct and indirect employment opportunities in the Rishikesh-Dehradun area. "We expect this (our investment) will create 6,000 new direct and indirect jobs in the state," Adani said.