Adani Group chairman Gautam Adani on Sunday said that his group will invest Rs 5,500 crore over the next five years in power transmission and food processing sectors in Uttar Pradesh.
He had made the investment announcement in February 2018 at the Uttar Pradesh Investors’ summit
“In the next five years, the group is planning to invest Rs 5,000 crore in power transmission and another Rs 500 crore in food processing sector,” Adani said.
According to reports, the work on two power transmission projects has already begun.
Under the food processing segment, rice and flour mills, kachchi ghani refining facility will be set up in the state, he said.
The group will also focus on other areas such as data centre and defence.
On the future plans, he said that going by the size, population and strategic location and demographic dividend of the state, Uttar Pradesh can emerge as a leader in these sectors as well.
He also mentioned the project for enhancing the waterways in Varanasi and development of the multi-modal river terminal.
For improving the foodgrain storage capacity in the state, the group has set up units having the capacity of 15,000 metric tonnes in Kannauj, he said.
Last year, speaking at the summit in presence of Chief Minister Yogi Adityanath in Lucknow, Adani had announced the investment of Rs 35,000 crore in Uttar Pradesh over the next five years.
Adani had said that his group is already working on energy, logistics, solar power, roads and agriculture sectors and will invest in these fields.
The group is also set to establish two 250 MW data centres in UP’s Jewar and NCR area, a media report suggests.
For this, the group will invest Rs 60,000 crore and the whole the project will run on solar energy.
Mentioning about Prime Minister Narendra Modi target of being the USD 5 trillion economy by 2024, Adani said UP will play an important role as the fastest-changing state.