Adani Group announces proposed Bengal investment exceeding ₹1 lakh crore
Gautam Adani says the Adani Group proposes to invest more than ₹1 lakh crore in West Bengal by 2035. The plan includes power distribution in Kolkata through CESC, a business that has so far remained a monopoly of the R.P. Sanjiv Goenka Group, according to The Hindu.
The Adani Group plans to invest more than ₹1 lakh crore in West Bengal by 2035, its chairman, Gautam Adani, said, according to The Hindu. The proposal includes investment in power distribution in Kolkata. The group would pursue that activity through its flagship company, CESC, the report said.
Power distribution in Kolkata has so far remained the monopoly of the R.P. Sanjiv Goenka Group, according to the supplied material. It does not explain whether the proposed Adani investment would involve a new licence, an acquisition, a partnership or another form of market entry.
The announcement sets out a long-term investment intention rather than details of a completed project. The source does not provide a year-by-year schedule, the estimated cost of the Kolkata distribution proposal or the amount allocated to other sectors in West Bengal. It also does not identify the expected sources of finance, the number of jobs that could be created or the regulatory approvals required.
No response from the R.P. Sanjiv Goenka Group, CESC or West Bengal authorities is included in the available material. Adani’s statement therefore signals an expansion plan for the group in the state, with power distribution in Kolkata specifically mentioned.
The available report provides no information on when the proposed work would begin or how it would affect existing customers and operators.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.