At the World Economic Forum 2024 in Davos on Wednesday, the Telangana government, led by Chief Minister A Revanth Reddy, announced the signing of four memorandums of understanding (MoUs) worth over Rs 12,400 crore with the Adani portfolio of companies.
The chief minister pledged the state government’s assistance in supplying the facilities, infrastructure, and backing needed for the projects. The Adani group visited the chief minister earlier this month in Hyderabad, where Asish Rajvansh, CEO of Adani Space, and Karan Adani, CEO of Ports and SEZs, were present.
The agreements were signed with Chief Minister Revanth Reddy and Chairman Gautam Adani present, per a statement released by the Adani group. With the MoUs, Telangana hopes to lay the groundwork for inclusive, green, sustainable, and transformative economic growth.
The Telangana CMO’s official account on X.com wrote, “The hour-long meeting covered a plethora of exciting new business opportunities for #Telangana across several sectors.”
It states that Adani Enterprises Limited (AEL) will invest more than Rs 5,000 crore in a 100 MW renewable energy-powered data centre over the next five to seven years; Adani Green Energy Limited (AGEL) will invest more than Rs 5,000 crore in two pump storage projects; Ambuja Cements, a division of the Adani group, will invest more than Rs 1,400 crore in the next five years to establish a 6 MTPA cement plant.
Adani Defence Systems and Technologies Limited will support more than Rs 1,000 crore in ten years to develop a comprehensive ecosystem for designing, developing, producing, and integrating counter-drone and missile systems at the Adani Aerospace Park.
The AEL stated that to build a globally capable supplier base for the project; it will collaborate closely with regional MSMEs and startups. It would give 600 people direct and indirect employment.
AGEL’s two pump storage projects (PSPs) are a 500 MW PSP in Nacharam and an 850 MW PSP in Koyabestagudem. Similarly, Ambuja Cements’s six MTPA cement plants, which would span 70 acres, are expected to employ over 4,000 people directly and indirectly.
The statement said that over 1,000 jobs would be created and that India’s defence capabilities would be strengthened by the ecosystem created by Adani Defence Systems and Technologies Limited’s Rs 1,000 crore investment in the Counter Drone Systems and Missile Development and Manufacturing Centers at the Adani Aerospace and Defence Park.