The Adani Group has announced plans to set up cement grinding and propellant production units in Madhya Pradesh at an investment of Rs 3,500 crore, Karan Adani, CEO of Adani Ports and SEZ said at an event in Gwalior.

"The Adani Group plans to set up a 2 million tonne cement grinding unit in Guna. The Adani Group is also going to develop a state-of-the-art propellant production facility at Shivpuri. This unit in Shivpuri is strategically aligned with the Aatmanirbharta mission of transforming India from a defence importer to a defence exporter. These two projects would result in an investment of Rs 3500 crore and create over 3500 direct and indirect jobs," Karan Adani, CEO - Adani Ports and SEZ said.

Adani Group said it has already invested Rs 18,250 crore in Madhya Pradesh, helping create 12,000 jobs. "Gwalior is soon becoming a tourism hotspot and a pool of high quality talent and also a key transportation and trade hub," Adani said, adding that these developments are making the city an emerging economic centre attracting investments across sectors.

Adani's defence facility in Gwalior is India's largest small arms plant, he said, which has positioned the city on the global map.