Adani Group expands its presence in Chhattisgarh

Adani Group signed a Memorandum of Understanding (MOU) with the Government of Chhattisgarh to develop two critical projects in the state.The two projects comprise of a Coal to Polygeneration (CTP) Project and a Rice Bran Solvent Extraction Plant & Refinery. The  estimated cost for both the projects is around Rs 25200 crore. The shares of AEL on BSE increased by 6.67 per cent in early trades and is trading at Rs 67.7 on intraday basis.

The first project to be set up is a Coal to Poly‐generation (CTP) Project consisting of Ammonia or Urea and Substitute Natural Gas (SNG) Complex via gasification of Indian high ash coal. The high ash coal will be sourced from within the state. The project cost is estimated to be more than Rs 25000 crore and includes Coal to Urea, Coal to SNG Plant and Coal based Thermal Power Plant. The proposed CTP Project of Adani Enterprises (AEL) is a unique project, being set up for the first time in India, based on Coal to Synthetic Energy. The company will add significant value to the Indian economy.The project will help to ensure energy security and drive macroeconomic growth through the coal based fuel to the country. This project has potential to generate 5000 jobs in the State of Chhattisgarh.

The second project comprises of setting up a Rice Bran Solvent Extraction Plant and a physical Refinery packing plant at Rajnandgaon in the state of Chhattisgarh. The project cost is estimated to be around Rs 200 crore and has the potential to generate more than 600 jobs in the state of Chhattisgarh.

Adani Group signed the work contract agreement on August 17,2015 for development of the Rs 7525 crore Vizhinjam International Deepwater Multipurpose Seaport in Kerala. The group is also in talks with Softbank,Foxconn on USD 3 billion solar project to make solar cells and panels in the country.

The Adani Group is one of India’s leading business houses founded in 1988. Adani has grown to become a global integrated infrastructure player with businesses in key industry verticals viz. resources, logistics and energy. The Group has also made significant inroads in the agri-infrastructure business by setting up grain storage silos and cold storage facilities, catering to storage of apples from Himachal Pradesh.