Adani Group to invest Rs 12,400 crore in Telangana
Adani Aerospace and Defence will invest Rs 1,000 crore in counter drone systems and missile development and manufacturing centres at the Adani Aerospace and Defence Park located near Hyderabad.
Hyderabad: The Adani Group has announced investments worth Rs 12,400 crore in Telangana across multiple sectors to be executed over the next few years. Adani Group chairman Gautam Adani along with its president and Adani Aerospace and Defence chief executive officer Ashish Rajvanshi exchanged four memorandum of understanding with Chief Minister A Revanth Reddy and IT Minister D Sridhar Babu during their meeting at the World Economic Forum (WEF) in Davos on Tuesday.
Accordingly, Adani Green Energy will invest Rs 5,000 crore for setting two pumped storage projects in Telangana of 1350 MW capacity, while AdaniConneX Data Centers will invest another Rs 5,000 crore to establish a data centre campus in Chandanvelly with a total capacity of 100 MW. Similarly, Ambuja Cements will invest Rs 1,400 crore in a cement grinding unit in Telangana with a capacity of 6.0 MTPA (million tonnes per annum).
Further, Adani Aerospace and Defence will invest Rs 1,000 crore in counter drone systems and missile development and manufacturing centres at the Adani Aerospace and Defence Park located near Hyderabad.
On the occasion, Chief Minister Revanth Reddy assured the Adani Group that the State government will provide required amenities, infrastructure, and support for the projects.
During the meeting, Adani said the new government in the Telangana has been extremely investor friendly and with the new planned policies, should attract more investments. Adani group will continue growing in Telangana at faster pace with the provided, he added.
Principal Secretary for IT and Industries Jayesh Ranjan, and Special Secretary for Investment Promotion Vishnu Vardhan Reddy were also present during the meeting.
