Telangana Wins Big! Adani Group Commits Rs 12,400 Crore in Four MoUs

Adani Group has entered into four memorandums of understanding (MoUs) with the Telangana government during the ongoing World Economic Forum 2024 in Davos, demonstrating a commitment to invest over Rs 12,400 crore.

As a significant component of this collaboration, Adani Enterprises will allocate more than Rs 5,000 crore for the development of a 100 MW data center in the state. This state-of-the-art facility will operate on renewable energy sources over the course of five to seven years, anticipating the creation of job opportunities for approximately 600 individuals, encompassing both direct and indirect employment.

Furthermore, Adani Green Energy (AGEL) is set to inject approximately Rs 5,000 crore into the establishment of two pump storage projects, with capacities of 850 MW at Koyabestagudem and 500 MW at Nacharam. Concurrently, Ambuja Cements is slated to construct a six MTPA cement plant with an investment of Rs 1,400 crore, paving the way for employment for over 4,000 people. This expansive plant, spanning 70 acres, is projected to be operational within the next five years.

Over the next decade, Adani Defence Systems & Technologies will channel investments exceeding Rs 1,000 crore into research, development, design, manufacturing, and integration of cutting-edge counter-drone and missile systems at the Adani Aerospace Park. This initiative is poised to generate over 1,000 jobs, contributing significantly to advancements in defense technology.

News by Rahul Yelligetti