- AEL to invest Rs 5,000 cr in 100 MW data centre that will use green energy
- Adani Green to set up two pump storage projects using over Rs 5,000 crore
- Ambuja Cements will put up Rs 1,400 crore to build 6 MTPA cement plant
- Adani Defence and Aerospace to invest Rs 1,000 crore to set up counter drone and missile facilities
NE BUSINESS BUREAU
DAVOS, JAN 17
The Adani portfolio of companies, one of the world’s largest infrastructure conglomerates, and the Government of Telangana on Wednesday signed four memorandums of understanding (MoU) for investment of over Rs 12,400 crore, at the World Economic Forum 2024. These were signed in the presence of Chief Minister of Telangana Revanth Reddy, and the Chairman of the 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 startups 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.
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.
Maharashtra CM Eknath Shinde meets Gautam Adani, Founder & Chairman of Adani Group in Davos, discusses infrastructure investment opportunities in the state. @gautam_adani @AdaniOnline @mieknathshinde @wef #MagneticMaharashtra #MadeForBusiness #TakingGlobalLead #Davos2024 pic.twitter.com/YHcw11mVzS
— ET NOW (@ETNOWlive) January 17, 2024
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.
On the occasion, Chief Minister A Revanth Reddy assured the Adani Group that the State government will provide required amenities, infrastructure, and support for the projects.
During the meeting, Adani said the new government in the Telangana has been extremely investor friendly and with the new planned policies, should attract more investments. Adani group will continue growing in Telangana at faster pace with the provided, he added.
Principal Secretary for IT and Industries Jayesh Ranjan, and Special Secretary for Investment Promotion Vishnu Vardhan Reddy were also present during the meeting.