Adani’s portfolio companies and the Telangana government have signed four agreements (MoUs) for investment of more than Rs 12,400 crore at the World Economic Forum 2024 (WEF). These four MoUs were signed in the presence of Telangana Chief Minister Revanth Reddy and Adani Group Chairman Gautam Adani.
According to the press release issued by Adani Group, these Memorandum of Understanding (MoUs) will help in laying the foundation for green, sustainable, inclusive and transformative economic development of Telangana.
4 agreements of Adani Group companies with Telangana government
Adani Enterprises (AEL), according to the release, will invest more than Rs 5,000 crore in the coming 5-7 years in a 100 MW data center, which will run on renewable energy. AEL will work closely with local MSMEs and startups to develop a globally capable supplier base for the project. This will provide employment to 600 people directly and indirectly.
Adani Green Energy (AGEL) will invest more than Rs 5,000 crore to set up two pumped storage projects (PSPs). Both these PSPs will be installed at Koyabestagudem (850 MW) and Nacharam (500 MW).
Ambuja Cements will invest Rs 1,400 crore to set up 6 MTPA cement plants in the next 5 years. This unit will be built on 70 acres. This will significantly increase the capacity of Ambuja. This will provide direct and indirect employment to more than 4,000 people.
Adani Defense Systems and Technologies Limited is investing Rs 1,000 over 10 years to create an ecosystem for research, development, design, manufacturing, and integration of counter drone and missile systems at Adani Aerospace Park. Will invest more than Rs. crore.
Whatever ecosystem will be created through these projects, it will increase India’s defense capability and will also provide employment to more than 1,000 people.
