GANDHINAGAR: Aditya Birla Group plans to invest Rs 15000 crore in Gujarat over the next three years on capacity expansion and setting up of new units, its Chairman Kumar Mangalam Birla Friday said.
The group will be making these investments in various business segments ranging from textiles and chemicals to mining and minerals.
Speaking here at the Vibrant Gujarat Global Summit, Mr. Birla said, up until now the group's investments in Gujarat "are of over Rs. 30,000 crores and counting".
"We have plans to invest about Rs. 15,000 crore more. This is towards the expansion of our capacities, setting up of new plants," he said.
Aditya Birla Group is an Indian multinational conglomerate, headquartered in Worli, Mumbai, India. It operates in 35 countries with more than 120,000 employees worldwide.
The group was founded by Seth Shiv Narayan Birla in 1857. The group has interests in sectors such as viscose staple fibre, metals, cement (largest in India), viscose filament yarn, branded apparel, carbon black, chemicals, fertilizers, insulators, financial services, telecom, BPO, and IT services.
The group had revenue of approximately US$44.3 billion in the year 2018. It is the third-largest Indian private sector conglomerate behind Tata Group with revenue of just over US$100 billion and RIL with revenue of US$74 billion.
Elaborating the investment plans, he said, "Amongst our major expansion is with Grasim viscose staple fiber plant at Vilayat and Indian Rayon viscose filament yarn plant at Veraval. These will entail investments of Rs. 7,500 crore."
The group currently has 15 manufacturing plants providing employment to around 26,000 people. He said the investments on expanding group firm Grasim's chemical business will be around Rs. 1,000 crores.
"About Rs. 1,000 crore allocated for the mining and mineral sector and solar power," Mr. Birla added. Moreover, the group is also increasing investment in green technologies at all of its plants as part of environmentally friendly measures as part of the new investments planned, he added.
"All of these investments together run up to Rs. 15,000 over a three year period," Mr. Birla said.
