Gautam Adani's company to set up 2 new projects with Rs 3500 crore investment in...

Gautam Adani is one of the richest businessmen in India with a massive real-time net worth of Rs 691892 crore, as per Forbes. His Adani Group, which began in 1988 as a commodities trading firm, today has a presence in ports, airports, power generation and transmission, and green energy, among others.

Now, Adani Group firm APSEZ has announced setting up a 2 million tonne capacity cement grinding unit in Madhya Pradesh's Guna and a propellant production facility at Shivpuri in the state with a total investment of Rs 3,500 crore. The company has a market cap of Rs 3.18 lakh crore as of August 28.

Adani Ports and Special Economic Zone Ltd (APSEZ) MD Karan Adani said the unit in Shivpuri is strategically aligned with the Aatmanirbhar mission to transform India from a defence importer to a defence exporter. These two projects would create over 3,500 direct and indirect jobs.

Referring to the investment made by Adani Group in Madhya Pradesh, he said, "We have already invested Rs 18,250 crore and created 12,000 jobs." The Adani defence facility at Gwalior is the country's largest small arms plant and has positioned Madhya Pradesh as a global hub for small arm manufacturing, he said.

READ | Good news for Mukesh Ambani as CCI approves Rs 71364 crore merger of...