Telangana government signs 4 agreements worth Rs 12,400 crore with Adani in Davos

In a significant development at the World Economic Forum 2024, the Adani Group and the Government of Telangana have inked four Memorandums of Understanding (MoUs), amounting to a colossal investment exceeding Rs 12,400 crore. The signing ceremony, witnessed by Telangana Chief Minister Revanth Reddy and Adani Group Chairman Gautam Adani, lays the groundwork for fostering green, sustainable, inclusive, and transformative economic growth within the state.

Adani Enterprises Limited (AEL) has unveiled plans to inject over Rs 5,000 crore into a 100 MW data center, to be powered entirely by renewable energy, over the next 5-7 years. This strategic move aligns with AEL’s commitment to collaboration with local Micro, Small, and Medium Enterprises (MSMEs) and startups, fostering the development of a globally competitive supplier base. The project is anticipated to generate direct and indirect employment opportunities for approximately 600 individuals.

In a parallel initiative, Adani Green Energy Limited (AGEL) is set to invest over Rs 5,000 crore in the establishment of two pumped storage projects (PSPs). These projects, with capacities of 850 MW at Koyabestagudem and 500 MW at Nacharam, underscore AGEL’s dedication to sustainable energy practices.

Ambuja Cement, a part of the Adani portfolio, is poised to invest Rs 1,400 crore in the next five years to set up 6 Million Metric Tonnes Per Annum (MTPA) cement plants. Spanning across 70 acres, this expansion is expected to significantly enhance Ambuja Cement’s capacity and provide employment opportunities for over 4,000 people, both directly and indirectly.

Additionally, Adani Defense Systems & Technologies Limited is charting a significant investment of over Rs 1,000 crore over the next decade. This investment aims to establish a comprehensive ecosystem for the research, development, design, manufacturing, and integration of counter-drone and missile systems at Adani Aerospace Park. The envisioned ecosystem is poised to contribute significantly to bolstering India’s defense capabilities, concurrently creating job opportunities for more than 1,000 individuals.

As a conglomerate headquartered in Ahmedabad, the Adani Group boasts the largest and fastest-growing diversified business portfolio in India. Encompassing logistics, resources, power generation and distribution, renewable energy, gas, and infrastructure, the Adani Group attributes its success to the core philosophies of ‘nation building’ and ‘growth with goodness.’ Emphasizing sustainable development, the group is committed to environmental protection and community improvement through Corporate Social Responsibility (CSR) initiatives founded on principles of sustainability, diversity, and shared values.

For further details, visit www.adani.com.