Adani Set to Invest Rs 5,500 Crores in Uttar Pradesh’s Power, Food Processing Sector

Adani Group has announced that it will capitalize Rs 5,500 crore over the next five years in power transmission and food processing sectors in Uttar Pradesh, its chairman Gautam Adani said.

Speaking on the occasion of the second ground breaking ceremony that will see the launch of multiple projects by corporates, Adani said he had announced his outlay plans during UP investors' summit in February 2018 and the work on two power transmission projects has by now started.

"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.

Speaking about his plans to focus also on other areas such as data centre and defence, he said that going by the size, population and strategic location and demographic dividend of the state, Uttar Pradesh can develop as a leader in these sectors as well.

“Our presence in the defence sector is very important for us. It is my dream that Adani Group sets up world-class defence manufacturing hub in the defence corridor in Uttar Pradesh," he said.

Highlighting that the development story of the country is incomplete without Uttar Pradesh, Adani said the state is being seen as the fastest changing and it will play an important role in reaching the target set up by Prime Minister Narendra Modi of USD 5 trillion economy by 2024.