Adani Group to invest over Rs 12,000 crore in Telangana: Check details

Digital Desk: The Adani Group has signed four agreements with the government of the Indian state of Telangana to spend more than Rs 12,400 crore ($1.49 billion) in a variety of sectors.

The massive investments in the state were made possible by a meeting between Telangana Chief Minister A Revanth Reddy and Gautam Adani, Chairman of the Adani Group, at the World Economic Forum in Davos.

Four Memorandums of Understanding (MOUs), representing a commitment of Rs 12,400 crores across several sectors, were exchanged during the conference.

A wide variety of projects are included in the investments:

With a 1350 MW capacity, Adani Green Energy plans to invest Rs 5,000 crores in two Telangana pumped storage projects.

AdaniConneX Data Centers plans to invest an equivalent amount of Rs 5,000 crores to develop a 100 MW data center campus in Chandanvelly.

In Telangana, Ambuja Cements Ltd. intends to invest Rs 1,400 crores in a cement grinding facility with a 6.0 MTPA capacity.

At the Adani Aerospace and Defence Park, Adani Aerospace and Defence will allocate Rs 1,000 crores to the development and manufacturing of missiles and counter-drone systems.

The Telangana chief minister assured the Adani Group that the state would fulfill its end of the bargain by supplying the facilities, infrastructure, and assistance required for these projects to be carried out successfully.

Adani welcomed the new government's proposals and responded by expressing hope about Telangana's investor-friendly climate. He reaffirmed the Adani Group's dedication to the state's speedy development.

The meeting featured several notable attendees, including D Sridhar Babu, Minister of Industries and ITE&C; Jayesh Ranjan, Principal Secretary, ITE&C; and Vishnu Vardhan Reddy, Special Secretary, Investment Promotion. The meeting focused on the cooperation between the public and private sectors in promoting economic growth in Telangana.