Adani to invest more than Rs. 25000 crore in two projects in the state of Chhattisgarh
Both Projects to provide employment to more than 5500 people in the state
Raipur, August 24, 2015: Adani Group, a global integrated player, today signed a MOU with the Government of Chhattisgarh to develop two critical projects in the state. The project cost for both the projects is estimated to be around INR 25, 200 crore. The MOU was signed in the presence of Mr. Raman Singh, Hon’able Chief Minister, Chhattisgarh, Mr. Amar Agrawal, Hon’able Minister of Industry, Mr.Vivek Dhandh, Chief Secretary of State and Mr. Rajesh Adani, Managing Director, Adani Enterprises Ltd.
The two projects comprise of a Coal to Poly-generation (CTP) Project and a Rice Bran Solvent Extraction Plant & Refinery. The MOU was signed by Mr. Subodh Kumar Singh, Secretary-Industries of the State and Mr. Rajesh Jha and Mr. KS Varshney from the Adani Group.
Speaking on the development Mr. Gautam Adani, Chairman, Adani Group, said, “The Adani Group remains committed to helping India on its path to attaining energy sufficiency. These projects will help the state of Chhattisgarh strengthen its overall socio economic status. We also feel these two projects will play an instrumental role in assisting the larger national agenda of inclusive growth for all and is demonstrative of our continuous efforts of nation building”.
Speaking on the occasion, Dr. Raman Singh, Hon’able Chief Minister, Chhattisgarh said, “We are delighted with this development and glad to be associated with the Adani group. Both these projects will not only enhance the economic growth of the state but will also create substantial employment opportunities for the people of Chhattisgarh”.
The first project to be set up is a Coal to Poly-generation (CTP) Project consisting of Ammonia/Urea and Substitute Natural Gas (SNG) Complex via gasification of Indian high ash coal sourced from within the state. The project cost is estimated to be more than INR 25, 000 crore and includes Coal to Urea, Coal to SNG Plant and Coal based Thermal Power Plant.
The CTP project has the potential to generate 5000 jobs as well as substantial revenue to the state of Chhattisgarh. In addition to this, the project will strengthen the overall socio- economic status of Chhattisgarh State.
The Proposed CTP Project of Adani Enterprises Ltd. (AEL) is a unique Project, being set up for the first time in India, based on Coal to Synthetic Energy. Based on the various studies, Adani Enterprises Ltd. believes that the CTP, project would add significant value to the Indian economy. The project will not only help ensuring energy security for India but also drive macroeconomic growth through the coal based fuel.
The second project comprises of setting up a Rice Bran Solvent Extraction Plant and a physical Refinery packing plant at Rajnandgaon in the state of Chhattisgarh. The project cost is estimated to be around INR 200 crore and has the potential to generate more than 600 jobs in the state of Chhattisgarh. The proposed project will not only help in increasing the potential of rice bran oil production in the state but will also help in generating employment and economic growth in the region of operation.