Bihar Business Connect 2024: MoUs Worth Rs 1.8 Lakh Crore Signed with Major Companies
Patna: On the second day of the Bihar Business Connect 2024, six major companies signed Memorandums of Understanding (MoUs) with the state government, amounting to a total investment of Rs. 1.8 lakh crore. Among the key announcements, Sun Petrochemical committed to investing Rs. 36,400 crore in the renewable energy sector in Bihar. Other major investments include Rs. 5,500 crore from NHPC, Rs. 3,000 crore from Coca-Cola, Rs. 800 crore from Shree Cement, and Rs. 300 crore from Haldiram.
Adani Group Expands Presence in Bihar
Pranav Adani, Director of Adani Group, highlighted the company’s substantial contributions to Bihar, describing it as the state’s largest private investor. “We have already invested Rs. 850 crore in logistics, gas distribution, and agri-logistics, creating 25,000 jobs directly and indirectly,” he said. The group announced plans to invest an additional Rs. 2,300 crore, which is expected to generate another 25,000 job opportunities.
Adani also shared future plans to invest Rs. 1,000 crore in infrastructure projects, including rail networks and smart meters. “Earlier, we invested Rs. 2,100 crore for the installation of 28 lakh smart meters across five districts—Siwan, Gopalganj, Vaishali, Saran, and Samastipur—creating 4,000 local jobs,” he added.
Sun Petrochemical’s Commitment
Dilip Sanghvi, Managing Director of Sun Petrochemical, stated, “Our investment in Bihar will create employment opportunities for 30,000 people.”
Government Representation Amid CM’s Absence
Chief Minister Nitish Kumar, who was expected to attend the event, was unable to participate due to health issues. In his absence, Energy Minister Bijendra Yadav represented the state government.
Milestones
Bihar Business Connect 2024, held at Gyan Bhawan in Patna, showcased the state’s efforts to attract investment. On the inaugural day, NHPC CMD Raj Kumar Chaudhary had announced plans to invest Rs. 5,500 crore in Bihar. The event also revealed ongoing discussions with Foxconn, the iPhone manufacturer, which has expressed interest in investing in Bihar.
