UP Investors Summit 2022: Gautam Adani to invest Rs 70,000 crore in Uttar Pradesh
Gautam Adani praised Prime Minister Modi and said that he is building a new India that works to restore its past glory. He also mentioned CM Yogi Adityanath building a foundation on which UP's trillion-dollar economy will be built.
New Delhi: At the third Uttar Pradesh Investors Summit Adani Group Chairman Gautam Adani announced an investment of Rs. 70,000 crore in Uttar Pradesh. At the summit, Prime Minister Narendra Modi laid the foundation for 1406 projects worth over Rs. 80,000 crore.
Addressing Uttar Pradesh Investors Summit 2022, Adani said, “We are investing over Rs 70,000 crore in the state. We anticipate this investment creating over 30,000 jobs.” Adding to it, Adani Group chairman said “of this investment, Rs 11,000 crore have already been spent across our transmission, green energy, water, agri-logistics and our data centre business.”
The Adani Group will also be investing Rs. 24,000 on the road and transport infrastructure and Rs. 35,000 crore on multi-model logistics as well as defence sectors. Adani announced the largest private sector investment in the UP defence corridor with an aim to set up South Asia’s largest ammunition complex in Kanpur. “Uttar Pradesh is a symbol of this quantum leap forward,” he added.
Gautam Adani praised Prime Minister Modi and said that he is building a new India that works to restore its past glory. He also mentioned CM Yogi Adityanath building a foundation on which UP’s trillion-dollar economy will be built.
This is the third UP Investors Summit, the first and second were held in 2018 and 2019 respectively. An official statement issued by the Uttar Pradesh government stated that the investment in the Friday’s ceremony will fund at least 805 projects in the micro, small, and medium enterprise (MSME) sector. Rs 4,459 crore will be invested into new MSMEs being set up in the state.