Adani Group Plans Rs 12,400 Crore Investment in Telangana
The Adani Group has revealed plans to invest Rs 12,400 crore in Telangana across various sectors, as announced by the Telangana government, during a meeting at the World Economic Forum in Davos, Chief Minister A. Revanth Reddy and Adani Group Chairman Gautam Adani formalized this commitment by exchanging four Memorandums of Understanding (MOUs) outlining the investments the group intends to make in the state over the coming years.
As per an official statement from Hyderabad, Adani Green Energy is planning a Rs 5,000 crore investment for the establishment of two Pumped Storage Projects, each with a capacity of 1350 MW. Additionally, AdaniConneX Data Center is set to invest Rs 5,000 crore in creating a Data Center campus in Chandanvelly. Ambuja Cements Ltd. has also announced a Rs 1,400 crore investment for the construction of a Cement Grinding unit in Telangana, boasting a capacity of 6 million tonnes per annum (MTPA).
Adani Aerospace and Defence will invest Rs 1,000 crore in Counter Drone Systems and Missile Development and Manufacturing Centers at the Adani Aerospace and Defence Park in Hyderabad. The Chief Minister has assured Gautam Adani that the state government will provide the required amenities, infrastructure, and support for the projects. "The new Government in Telangana has been extremely investor friendly and with the new planned policies, should attract more investments. Adani group will continue growing in Telangana at high pace with the provided", the statement quoted Gautam Adani as saying.
Accompanying the Chief Minister were D. Sridhar Babu, the Minister for Information Technology and Industries, as well as Ashish Rajvanshi, the President and CEO of Adani Aerospace and Defence, Jayesh Ranjan, Principal Secretary of ITE&C (Information Technology, Electronics, and Communications), and I&C (Industries and Commerce). Vishnu Vardhan Reddy, Special Secretary for Investment Promotion, was also in attendance at the meeting.
