Bihar is now seen as an attractive investment destination, Pranav Adani said
The Adani Group plans to make an investment of Rs 8,700 crore in Bihar across multiple sectors and this would create direct and indirect employment for nearly 10,000 people, Adani Enterprises director Pranav Adani said today.
Mr Adani was addressing the plenary session of Bihar Business Connect 2023, the Nitish Kumar government’s outreach to business leaders to bring investment into the state and fulfil its promise to create jobs in the backward state.
Addressing the event, Mr Adani said Bihar is now seen as an attractive investment destination. “The change is visible, especially in social reforms, law and order situation, literacy and women empowerment,” he said.
Adani Group is with Mr Kumar’s vision of development in Bihar, Mr Adani said. The conglomerate, he said, had already invested Rs 850 crore in Bihar in logistics and gas distribution sectors and has created about 3,000 direct and indirect employment opportunities.
“We now want to make our investment ten-fold,” he said, adding that this Rs 8,700 crore investment plan would see the Group working on new sectors in the state.
The Adani Group is exploring the possibility to bring Adani Wilmar Group, a joint venture working in the food and beverages sector, to Bihar. Also, the group has planned to start manufacturing cement in Bihar. The cement manufacturing projects is aiming for a 10 million metric tonne target and is expected to create about 3,000 job opportunities.
Another sector in which the Group plans to invest is the manufacture of smart electricity meters. Under this initiative, Mr Adani said, 28 lakh metres will be installed across five cities.
Praising the Chief Minister’s focus on Ease of Doing Business, Mr Adani thanked him for his support and encouragement.
“We thank you for the opportunity to work in Bihar. I guarantee to provide quarterly updates on all the investments we have made,” he said.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
