Adani Group is set to make a substantial investment of over Rs 12,400 crore ($1.49 billion) in the Indian state of Telangana through four Memorandums of Understanding (MOUs). The agreements were solidified during a meeting between Adani Group Chairman Gautam Adani and Telangana Chief Minister A Revanth Reddy at the World Economic Forum in Davos. The diverse investment commitments cover various sectors:
Adani Green Energy: Injecting Rs 5,000 crores, Adani Green Energy will contribute to two Pumped Storage Projects in Telangana with a combined capacity of 1350 MW.
AdaniConneX Data Centers: Allocating an equal sum of Rs 5,000 crores, AdaniConneX Data Centers plans to establish a Data Center campus in Chandanvelly, featuring a total capacity of 100 MW.
Ambuja Cements Ltd.: With an investment of Rs 1,400 crores, Ambuja Cements Ltd. is set to establish a Cement Grinding unit in Telangana designed to handle 6.0 MTPA.
Adani Aerospace and Defence: Allocating Rs 1,000 crores, Adani Aerospace and Defence will focus on Counter Drone Systems and Missile Development and Manufacturing Centres at the Adani Aerospace and Defence Park.
The Telangana Chief Minister assured the Adani Group of the state's commitment, ensuring the provision of necessary amenities, infrastructure, and support for the successful execution of these projects. Adani, in response, expressed optimism about the investor-friendly environment in Telangana, praising the government's policies and affirming the group's dedication to the state's rapid growth.
The meeting included the presence of key officials, including Minister for Industries and ITE&C, D Sridhar Babu, Principal Secretary ITE&C, I&C Jayesh Ranjan, and Special Secretary, Investment Promotion, Vishnu Vardhan Reddy. This collaborative effort between the government and the private sector aims to drive economic growth in Telangana, creating a conducive environment for investments and development across various sectors.
