Government of Telangana inks MoU with Adani Group worth over Rs 12,400 crore

The Adani Group has inked four memorandums of understanding (MoU) with Government of Telangana for investment of over Rs 12,400 crore, at the World Economic Forum 2024. The MoUs were signed in presence of the Chief Minister of Telangana, Revanth Reddy, and the Chairman of the Adani Group, Gautam Adani.

The company said that these MoUs will help to build the foundations for economic growth of Telangana that is green, sustainable, inclusive, and transformative.

An amount of Rs 5,000 crore will be invested by Adani Enterprises (AEL) in a 100 MW data centre. It will 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. The project will also provide employment to 600 people, both direct and indirect.

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.

To set up a six MTPA cement plant in next five years, Ambuja Cements will pour Rs 1,400 crore. The unit would be set up across 70 acres and would significantly enhance Ambuja’s capability. This project will generate 4,000 jobs, both direct and indirect.

Adani Defence Systems and Technologies 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.