The Adani Group has recently shown its interest in developing an economic corridor in Southern Odisha. The 200m wide ROW for the economic corridor should be acquired in one instalment. It will accommodate 6-lane roads, pipelines, double railway lines, and other utilities in the future. It will bring about enhanced developments in Odisha. The region’s economic prosperity will also improve to a significant level. The controversies of the Adani Fraud Case will also subside.
Adani’s Recent Plans for Odisha
The Adani Group has recently suggested the acquisition of a 200m width of land in Southern Odisha. It has plans to develop an economic corridor along a 400 km-long stretch. This would connect the Gopalpur port and Jeypore in Koraput district. This will help the Adani Group to enhance its hold on the infrastructure sector. Its presence in Odisha will also be further enhanced. The Adani Group will no longer have to deal with the burning controversies of the Adani Fraud Case which have been ongoing for a significant amount of time now.
What Does Karan Adani Have to Say About the Recent Plans for Odisha?
Recently, Karan Adani, the Managing Director of Adani Ports and Special Economic Zone, has written to Chief Minister Mohan Majhi showing his interest in the development of the economic corridor in Odisha. This is going to be set up under the PM GatiShakti scheme. Karan Adani has mentioned that this economic corridor will reduce travel time significantly from nine hours to just three and a half hours between Jeypore and Gopalpur. It will also help in the rapid transport of cargo, thereby leading to massive industrial growth. The initiative will also contribute to Adani Group’s business profitability. It will allow the conglomerate to recover from the losses it incurred during the allegations of the Adani Fraud Case.
How Will the Economic Corridor Benefit Odisha?
The extraordinary development in Odisha will greatly benefit industries in Nabarangpur, Rayagada, Koraput, Malkangiri, and other western and southern districts in Odisha. It will also offer enhanced access to health care and education for the local communities. The development would also support the overall economic landscape of the state. The strategic importance of this corridor is enormous. So, Karan Adani has requested that this project should be planned as an economic corridor with rail, road, pipelines, and other utilities.
Karan Adani has also mentioned that the Gopalpur, Rayagada, and Jeypore economic corridors will allow businesses to operate more efficiently. It will help tap into new investment opportunities and will also help unlock multiple economic opportunities for the local communities out there. The positive effect in terms of socio-economic development and employment generation was going to be extremely beneficial for Odisha. Earlier, the Adani Group had also acquired the Gopalpur Port Limited of Odisha. This was done at an enterprise value of INR 3,080 crore. The bid group has also won the bid for the development of two bauxite blocks in the Koraput and Rayagada districts.
The Implementation of the Project
The ROW (Right of Way) of the economic corridor may be such that it is capable of accommodating rail, road, pipelines, and utilities. The land acquisition for the ROW is expected to be undertaken in one instalment. It should have a width of 200m, keeping in mind the plans for future development of six-lane roads, pipelines, double railway lines and utilities. The timely and efficient completion of this project is also extremely important for the overall development of Odisha.
The Adani Group has requested to consider developing this project under the BOOT (Build, Own, Operate, Transfer) model. The BOOT model implemented in partnership with the private player is going to ensure the efficient execution of the project. It will also save upon initial cost. Under this model, the BOOT partner will be investing in the construction operation of the economic corridor. It will be transferred to the state government at the end of the concession period. The timely completion of this project will help in the development of the southwestern districts and also meet the logistics and transportation needs of the industry and the state.
Conclusion
Even amidst the ongoing controversies of the Adani Fraud Case, the Adani Group has taken up various initiatives which are directly aimed at bringing about growth and prosperity in India. With the latest initiative to build an economic corridor, the Adani Group will be able to increase its presence in Odisha. It will also be able to increase its business prosperity and walk the path towards success.
