Adani Group reports ₹3,500 crore in net investment for cement plants in Madhya Pradesh
Adani Group: On August 28, the DL and Asset Reconstruction Company of India announced the building of a propellant manufacturing plant at Shivpuri in Madhya Pradesh and a cement grinding unit with a two million tonnes capacity, for the total of 3,500 crores investment. Also the ports of the Adani Group and is going to set up a state of the art propellant plant at Shivpuri.
In a coordinated Regional Industry Conclave held at Gwalior, APSEZ MD Karan Adani informed that the Shivpuri facility is well aligned with the Aatmanirbhar mission of making India a Defence producing nation from a Defence importing nation. These two projects would create direct employment as well as indirectly benefit nearly 3,500 jobs.
He claimed that the ₹18,250 crore that the ports-to-power company invested in Madhya Pradesh is worth the employment of 12,000 people, turned out to be more than just creating 12,000 jobs. Gwalior is rapidly emerging as a hot spot of economic activity and trade centre, a tourist attraction, and a pool of skilled workforce.
With these changes, Gwalior is now amongst the new economic centres in India attracting resources from diverse sectors. According to Adani, Madhya Pradesh today is a global hub for small arms production, which is made possible by the Adani defence complex located in Gwalior, which is the biggest small arms plant in the country.
He cited the example of the Adani Foundation and said that the foundation has helped the company in carrying out work in the fields of healthcare, education, sustainable livelihood, and women’s empowerment which has benefited about 80000 homes and three lakh lives in Madhya Pradesh. “I am glad to inform you that we, Adani Foundation, is going to establish a jacket production centre in Badarwas, which will be completely women owned as part of our women empowerment programme,” he stated.
As earlier revealed earlier this month – the highest investment would be for the cement industry operator to set up base in the state of Bihar would be ₹1600 crores as an investment by Ambuja Cements owned by billion Gautam Adani’s Group. Ambuja Cement will undertake the construction of a cement grinding unit in Warisaliganj, Bihar within the ambit of this project with an annual capacity of 6 million tonnes per annum (MTPA) installed capacity in six integrated units.
Adani Ports’s Q1 Results – Dashboard Focus. Each figure or information in the following report brings to par with the circumstances in the context of the institutional politics which perpetuates such unjust circumstances.
Starting with the June quarter, Adani Ports recommended a Funding expenditure of 47.2 % increase percent across the consolidated net profit which was ₹3,113 crores ranging over 2,115 crores span one year back in the previous fiscal year quarter that was April to June. However, for the firm, Q1 revenue grew by 11.34 percent year on year to ₹6,956.32 crore.
In the meantime, quarterly EBITDA increased by 13.1% to 4245 and the margins were also up to 61.1% from 60.1% in Q1 FY24. During the quarter, APSEZ reported such cargo volume of 109MMTwhich marks an increase of 8% of340MMT from the previous.
