The Telangana government signed four Memorandums of Understanding (MoU) with the Adani Group on Wednesday, January 17 at the World Economic Forum (WEF) in Davos. Gautam Adani told Chief Minister Revanth Reddy that investments to the tune of Rs 12,400 crores would be invested in Telangana over the coming few years.
Adani Green Energy will invest Rs 5,000 crores for setting up two pumped storage projects of 1350 MW capacity in Telangana. AdaniConneX Data Centres will invest Rs 5,000 crores to set up a data centre campus in Chandanvelly with a total capacity of 100 MW.
Ambuja Cements Ltd will invest Rs 1,400 crores in a cement grinding unit in Telangana and Adani Aerospace and Defence will alone invest Rs 1,000 crores in Counter Drone Systems and Missile Development and Manufacturing Centres at the Adani Aerospace and Defence Park.
“The new Telangana government has been extremely investor friendly and with the new planned policies, should attract more investments. Adani group will continue growing in Telangana at a high pace,” said Gautam Adani. Chief Minister Revanth Reddy has assured the state government’s cooperation in providing required amenities, infrastructure, and support for the projects.