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Adani Group plans Rs 124 bn investment in Telangana

2024-01-19

The Adanis have declared their intention to invest Rs 124 billion in Telangana. Agreements in this regard were signed by officials of the Telangana Government and representatives of the Adani Group. The signing ceremony took place in the presence of Chief Minister A Revanth Reddy and Adani Group Chairman Gautam Adani.

It was revealed that Adani Enterprises (AEL) is planning to invest over Rs 50 billion in a 100-MW data centre powered by renewable energy over the next 5-7 years.

According to a statement from the Adani group, "AEL will collaborate closely with local micro, small, and medium enterprises and start-ups to establish a globally competent supplier base for the project. It is anticipated to generate direct and indirect employment for 600 individuals."

Adani Green Energy (AGEL) has also committed to investing over Rs 50 billion in establishing two pump storage projects (PSPs) ? 850 MW at Koyabestagudem and 500 MW at Nacharam in the State.

Ambuja Cements, which has been acquired by the Ahmedabad-based group, has decided to invest Rs 14 billion in setting up a 6 MTPA cement plant over the next five years. The unit is planned to be established across 70 acres and is expected to significantly enhance Ambuja's capability, providing employment to over 4,000 people, both directly and indirectly.

Adani Defence Systems and Technologies is set to invest over Rs 10 billion over the next 10 years to establish a comprehensive ecosystem for the research, development, design, manufacturing, and integration of counter-drone and missile systems at the Adani Aerospace Park.