Adani Group plans investment of Rs 12,400 crore in Telangana

18 Jan 2024 , 01:34 PM

The Adani Group, led by its chairman Gautam Adani, has announced investments totaling Rs 12,400 crore in Telangana over the next five years.

Adani Green Energy will invest Rs 5,000 crore for two 1,350 MW pumped storage projects, while AdaniConneX Data Centres will invest the same amount for a 100 MW data centre campus in Chandanvelly.

Ambuja Cements Ltd, part of the Adani Group, will invest Rs 1,400 crore in a cement grinding unit with a capacity of 6 metric tonnes per year. Adani Aerospace and Defence will invest Rs 1,000 crore in counter-drone systems and missile development and manufacturing at the Adani Aerospace and Defence Park.

The decisions were revealed following a meeting between Chief Minister A. Revanth Reddy and the Adani Group chairman during the World Economic Forum conference in Davos. The Chief Minister, joined by Industries and IT Minister D. Sridhar Babu, exchanged four memorandums of understanding for future investments. Gautam Adani and Adani Aerospace and Defence president and CEO Ashish Rajvanshi represented the Adani Group during the signing of the MoUs.

The Chief Minister has pledged that the State Government will cooperate in providing the necessary facilities, infrastructure, and assistance for the projects. Gautam Adani stated that the new Telangana government has been exceedingly investor-friendly, and that with planned policies, the state should attract additional investment.

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