Ahmedabad, July 5 (IANS). Adani Group on Sunday announced that it will invest Rs 2,500 crore over the next three years to create an integrated missile manufacturing ecosystem in Shivpuri, Madhya Pradesh.
This plant will become the largest private missile ecosystem in South Asia, covering the entire value chain of missile manufacturing (from raw materials to missile systems).
Jeet Adani, Director, Adani Enterprises, in his speech at the foundation laying ceremony, said that this project is a historic milestone for India’s private defense manufacturing sector and will significantly increase the country’s self-reliance in strategic defense capabilities.
He said, “We have gathered here today for an important occasion, where the foundation of South Asia’s largest private-sector missile ecosystem is being laid. This factory will bring raw materials and mission-ready missiles under one roof, which will be the first outside the public sector.”
According to Jeet Adani, medium to long-range missile systems will be built in the Shivpuri complex. Besides, facilities for composite propellant production and production of TNT and explosive-grade materials will also be established here, which will reduce India’s dependence on defense imports.
He said that this project will provide direct and indirect employment to about 5,000 people and help in the growth of more than 50 micro, small and medium enterprises (MSMEs) through an exclusive defense supply chain.
Referring to the company’s major investment in Madhya Pradesh, Jeet Adani said that this defense project is part of the investment promise of Rs 1.10 lakh crore made by the Adani Group during the Global Investors Summit in Bhopal. These investments include hydro pumped storage, cement, mining, smart meters and thermal energy. It is expected that these will create 1.2 lakh jobs in the state by 2030.
He further said that the group has already invested more than Rs 4,000 crore in its Ametha and Kaimor plants in Katni district. Adani Power is currently supplying 1,200 MW power to Madhya Pradesh, and work is underway to supply 5,600 MW power. The company has also started wind energy projects in Lahori, Dhar, Ratlam and Ujjain, while preparations are underway to set up a cement plant in Ujjain.
Jeet Adani also informed that the group has recently laid the foundation stone of a Rs 1,060 crore cement unit in Guna, which he described as the biggest investment in the history of the district.
–IANS
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