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

Adani Group, has inked four agreements to invest over Rs 12,400 crore ($1.49 billion) in collaboration with the government of the Indian state of Telangana, across multiple sectors.

Adani Group Chairman, Gautam Adani, and Telangana Chief Minister A Revanth Reddy, held a meeting at the World Economic Forum in Davos that paved the way for the huge investments in the state.

The meeting saw exchange of four Memorandums of Understanding (MOUs), marking a commitment of Rs 12,400 crores across various sectors.

The investments include a diverse range of projects:

Adani Green Energy is set to inject Rs 5,000 crores into two Pumped Storage Projects in Telangana, boasting a capacity of 1350 MW.

AdaniConneX Data Centers will invest an equal sum of Rs 5,000 crores to establish a Data Center campus in Chandanvelly, featuring a total capacity of 100 MW.

Ambuja Cements Ltd. plans to invest Rs 1,400 crores in a Cement Grinding unit in Telangana, designed to handle 6.0 MTPA.

Adani Aerospace and Defence is allocating Rs 1,000 crores towards Counter Drone Systems and Missile Development and Manufacturing Centres at the Adani Aerospace and Defence Park.

The chief minister of Telangana assured Adani Group of the state's commitment, providing necessary amenities, infrastructure, and support for the successful execution of these projects.

In response to the development, Adani expressed optimism about the investor-friendly environment in Telangana, applauding the new government's policies. He affirmed the Adani Group's commitment to rapid growth in the state.

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 were also present during the meeting, emphasising the collaborative effort between the government and the private sector to drive economic growth in Telangana.