Adani Group to invest Rs 12,400 crore in Telangana

Hyderabad, Jan 17 (SocialNews.XYZ) Adani Group has announced an investment worth Rs 12,400 crore in Telangana across multiple businesses, the Telangana government said on Wednesday.

Chief Minister A. Revanth Reddy met with Adani Group Chairman, Gautam Adani at the World Economic Forum (WEF) in Davos.

The Adani Group exchanged four MOUs with the state government for investments in Telangana over the next few years.

According to an official release in Hyderabad, Adani Green Energy will invest Rs 5,000 crore for setting up two Pumped Storage Projects of 1350 MW.

AdaniConneX Data Center will invest Rs 5,000 crore to set up a Data Center campus in Chandanvelly.

Ambuja Cements Ltd. will invest Rs 1,400 crore in a Cement Grinding unit in Telangana with a capacity of 6 million tonnes per annum (MTPA).

Adani Aerospace and Defence will invest Rs 1,000 crore in Counter Drone Systems and Missile Development and Manufacturing Centers at the Adani Aerospace and Defence Park in Hyderabad.

The chief minister has assured Gautam Adani that the state government will provide required amenities, infrastructure, and support for the projects.

"The new Government in Telangana has been extremely investor friendly and with the new planned policies, should attract more investments. Adani group will continue growing in Telangana at high pace with the provided," the statement quoted Gautam Adani as saying.

The Chief Minister was accompanied by information technology and industries minister D. Sridhar Babu. President and CEO of Adani Aerospace and Defence, Ashish Rajvanshi, Principal Secretary ITE&C, I&C Jayesh Ranjan, and Special Secretary, Investment Promotion, Vishnu Vardhan Reddy were also present during the meeting.

Source: IANS