Adani Group to invest ₹12,400 crore in Telangana in the coming years

The Group chairman Gautam Adani exchange MoUs with Chief Minister A. Revanth Reddy at Davos

Telangana Chief Minister Revanth Reddy meets Gautam Adani, Chairperson Adani Group on the sidelines of World Economic Forum’s 54th Annual Meeting, in Davos on Wednesday. | Photo Credit: Special Arrangement

Adani Group headed by its chairman Gautam Adani has announced investments to the tune of ₹12,400 crore in Telangana in the next few years.

The Group’s company Adani Green Energy will invest ₹5,000 crore for setting up two pumped storage projects of 1,350 MW capacity and another firm AdaniConneX Data Centres has announced investment of an equal amount for setting up a data centre campus in Chandanvelly with a total capacity of 100 MW.

Ambuja Cements Ltd, part of the Adani Group, has decided to invest ₹1,400 crore in a cement grinding unit with 6 metric tonne a year capacity and Adani Aerospace and Defence will invest ₹1,000 crore in counter drone systems and missile development and manufacturing centre at Adani Aerospace and Defence Park here.

The decisions were announced after a meeting of Chief Minister A. Revanth Reddy with the Adani Group chairman as part of the World Economic Forum meeting in Davos. The Chief Minister, accompanied by Industries and IT Minister D. Sridhar Babu exchanged four memoranda of understanding for investments that would be made in the coming years. Mr. Gautam Adani and Adani Aerospace and Defence president and CEO Ashish Rajvanshi represented the Adani Group in the exchange of MoUs.

The Chief Minister has assured the State Government’s cooperation in providing required amenities, infrastructure and support for the projects. Mr. Gautam Adani said the new Government in Telangana had been extremely investor friendly and with planned policies it should attract more investments. The Adani Group would continue to grow in Telangana at high pace with the support provided by the Government.