Telangana Signs 4 MoUs With Adani Group For Over Rs 12,400 Crore At WEF In Davos

World Economic Forum 2024: Adani Enterprises Limited will invest over Rs 5,000 crore in a 100 MW data centre, which would be powered by renewable energy, over the coming 5-7 years

Adani Group Chairman Gautam Adani and Telangana Chief Minister Revanth Reddy at WEF, Davos. ( Image Source :Adani Group )

Gautam Adani-led Adani Group on Wednesday said it will invest over Rs 12,400 crore in an array of projects including a data centre, clean energy project, and a cement plant in Telangana. The Adani portfolio of companies and the Government of Telangana on Wednesday signed four memorandums of understanding (MoUs) for investment of over Rs 12,400 crore, at the World Economic Forum (WEF) 2024. These were signed in the presence of the Chief Minister of Telangana Revanth Reddy and the Chairman of Adani Group Gautam Adani.

These MoUs will help build the foundations for economic growth of Telangana that is green, sustainable, inclusive, and transformative.

Adani Enterprises Limited (AEL) will invest over Rs 5,000 crore in a 100 MW data centre, which would be powered by renewable energy, over the coming 5-7 years. AEL will work closely with local MSMEs and start-ups to develop a globally competent supplier base for the project. It would provide employment, both direct and indirect, to 600 people.

Adani Green Energy Limited (AGEL) will invest over Rs 5,000 crore to set up two pump storage projects (PSPs) – 850 MW at Koyabestagudem and 500 MW at Nacharam in Telangana.

Ambuja Cements will invest Rs 1,400 crore to set up a 6 MTPA cement plant in the next five years. The unit would be set up across 70 acres and would significantly enhance Ambuja’s capability. It will provide employment for over 4,000 people, both directly and indirectly.

Adani Defence Systems and Technologies Limited will invest over Rs 1,000 crore in 10 years to set up a comprehensive ecosystem for the research, development, design, manufacturing and integration of counter drone and missile systems at the Adani Aerospace Park.

The ecosystem developed through these projects would significantly enhance the defence capability of India and would provide employment to over 1,000 people.