Govt signs MoUs worth Rs25k crore with Adani to develop 2 projects

RAIPUR: Chhattisgarh government signed two MOUs on Monday surging more investments in state with Adani Group to develop two projects. The MoU is for coal to poly-generation (CTP) project and rice bran solvent extraction plant.
Signed in the presence of chief minister Raman Singh, industry minister Amar Agrawal
and Adani MD Rajesh Adani, the . The two projects comprise of a Coal to Poly‐generation (CTP) Project and a Rice Bran Solvent Extraction Plant & Refinery.The MOUs were signed by Secretary Commerce & Industries, Govt of Chhattisgarh, Subodh Kumar Singh and Rajesh Jha and Mr.KS Varshney from the Adani Group. The
project cost for both is estimated to be around Rs 25,200 crore.
Speaking on the occasion, Raman Singh said, "We are delighted that Adani group has chosen Chhattisgarh for this project. This is one of the biggest and strategic investments in state which would ensure value addition in coal and will ensure adequate supply of urea to farmers."
Leveraging state's core strengths -coal and rice, Adani group would be producing urea, substitute natural gas (SNG), sulphur, thermal power and rice bran oil which would diversify the core industry segment. It would promote gas based industrial projects with more investment and employment opportunities.
The first project to be set up is a Coal to Poly-generation (CTP) Project consisting of Ammonia/Urea and Substitute Natural Gas (SNG) Complex via gasification of Indian high ash coal sourced from within the state. The project cost is estimated to be more than Rs 25,000 crore and includes Coal to Urea, Coal to SNG Plant and Coal based Thermal Power Plant.
The CTP project has the potential to generate 10,000 direct and indirect jobs as well as substantial revenue for state. In addition to this, the project will strengthen the overall socio-economic status of Chhattisgarh.
The Proposed CTP Project of Adani Enterprises Ltd. (AEL) is a unique Project, being set up for the first time in India, based on Coal to Synthetic Energy. Based on the various studies, Adani Enterprises Ltd. believes that the CTP, project would add significant value to the Indian economy. The project will help ensuring energy security for India as well as drive macroeconomic growth through the coal based fuel.
The second project envisages rice bran solvent extraction and physical refinery of the oil in order to manufacture refined oil. Adani Group manufactures Fortune oil.
Plants set up under the project will extract 3.3 lakh tonne rice bran solvent per annum and refine 66,000 tonne extracted material annually. Capital expenditure for the project is Rs 200 crore and 200 direct and 400 indirect employment opportunities are expected to be generated. The project is proposed to be commissioned in Rajnandgaon and will take two years to start production.
S K Behar, OSD, Kartikeya Goel Director Industries and Sunil Mishra, Managing Director, CSIDC and M.K. Thapar and Vaibhav Alshi from Adani Enterprises Limited were also present on the occasion.