Adani Group Commits INR 12,000+ Cr Investments in Telangana
Adani Group has taken a huge step as it joins up with the Telangana Government to cause an investment of INR 12,400 crore (US$ 1.49 billion) across multiple sectors.
A significant meeting between Gautam Adani, Chairperson, Adani Group, and A Revanth Reddy, Chief Minister of Telangana, at the World Economic Forum, Davos, prompted the action. This unprecedented partnership led to four MOUs, which provided the basis for several major projects.
Adani Green Energy will invest INR 5,000 crore in two Pumped Storage Projects and AdaniConneX Data Centers will invest the same in a contemporary Data Center campus. Adani Aerospace and Defence would invest INR 1,000 crore in Counter Drone Systems and Missile Development and Manufacturing Centres, and Ambuja Cements Ltd would invest INR 1,400 crore in a modern cement grinding unit.
The Chief Minister pledged unconditional infrastructure and facilities to the Adani Group. In response, Adani said Telangana has an excellent investment climate and reiterated the Group's commitment to high growth. This joint public-private venture aims to boost Telangana's economy.