Bihar Business Summit Secures Investment Commitments of ₹1.8 Lakh Crore
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Patna, December 20 (NationPress) The two-day Bihar Business Connect 2024 culminated in the signing of memoranda of understanding (MoUs) for a remarkable sum of ₹1.8 lakh crore in investments for the state, as announced by Bihar Industries & Tourism Minister Nitish Mishra on Friday.
This proposed funding marks a three-fold increase compared to the initial investor summit held in Bihar last year.
The Adani Group, recognized as the leading investor in the state, revealed plans for an investment of ₹29,700 crore. Additionally, Sun Petrochemicals aims to invest ₹36,700 crore, while public sector giant NHPC has earmarked ₹5,500 crore for the renewable energy sector.
Further MoUs signed at the Bihar Business Connect 2024 include SLMG Beverages for ₹3,000 crore in the food processing sector, Shree Cements with plans for ₹800 crore in general manufacturing, and Haldiram Snacks Pvt Ltd, proposing ₹300 crore in food processing.
Pranav Adani, Director of Adani Enterprises, stated that the group intends to invest approximately ₹20,000 crore for the establishment of an ultra-supercritical thermal power plant, in addition to ₹2,500 crore for cement production facilities. This power project is anticipated to generate at least 12,000 job opportunities during the pre-commissioning phase and around 1,500 skilled jobs during its operational phase, he added.
Moreover, the group has outlined further investments in the infrastructure sector and city gas distribution initiatives.
On the second day of Bihar Business Connect 2024, Dilip Shanghvi, Managing Director of Sun Petrochemical, announced a groundbreaking investment of ₹36,700 crore in renewable energy and storage infrastructure in Bihar.
“This initiative, aimed at bolstering green infrastructure and aligning with the Central government's renewable energy agenda, is expected to create more than 30,000 job opportunities in the state,” he stated.
The summit was a tremendous success, drawing the participation of 850 representatives from both Indian and international firms. As per the minister, over 350 companies are anticipated to sign MoUs with the Bihar government.
