Adani group to invest Rs 70,000 crore in UP, may create 30k jobs

Adani group to invest Rs 70,000 crore in UP, may create 30k jobs

(ANI): Leading industrialist Gautam Adani on Friday committed an investment of Rs 70,000 crore in Uttar Pradesh at the third edition of the UP Investors Summit in Lucknow. Speaking at the event, the billionaire investor said this investment will create 30,000 jobs in India’s most populous state. Out of this investment, Rs 11,000 crore has already been spent on projects like transmission and green energy.

“We are investing over Rs 70,000 crore in the state. We anticipate that this investment will create over 30,000 jobs,” Adani said. The group is also investing Rs 24,000 crore on road & transport infrastructure and Rs 35,000 crore on multi-modal logistics and defence sector.

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Besides, it is in the process of the setting up South Asia’s largest ammunition complex in Kanpur. Ashish Rajvanshi, president & CEO of Adani Defence & Aerospace, said, “The ammunition complex will have state-of-the-art technology across small and medium calibre ammunition, along with short-range air defence missiles. It shall be a key facilitator in India’s goal of achieving $5.0 billion exports in defence manufacturing.”

Speaking on the eve of the signing of the MoU, Awanish Kumar Awasthi, CEO, UP Expressways & Industrial Development Authority (UPEIDA) and additional chief secretary, said this project is going to prove to be a landmark in the history of indigenous defence manufacturing.

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