(Image source from: Twitter.com/TelanganaCMO)
Adani Group to invest Rs 12,400 crore in Telangana:- The Adani Group, led by its chairman Gautam Adani, has announced significant investments of ₹12,400 crore in various sectors in Telangana, India. Adani Green Energy, a company under the group, will invest ₹5,000 crore to establish two pumped storage projects with a total capacity of 1,350 MW. Additionally, AdaniConneX Data Centres will invest an equal amount to set up a data centre campus in Chandanvelly, with a capacity of 100 MW.
Ambuja Cements Ltd., another subsidiary of the Adani Group, has decided to invest ₹1,400 crore in a cement grinding unit with a capacity of 6 metric tonnes per year. Adani Aerospace and Defence will also invest ₹1,000 crore in a counter-drone systems and missile development and manufacturing centre at Adani Aerospace and Defence Park.
Chief Minister Sri @revanth_anumula, along with Industries Minister Sri @Min_SridharBabu, met with Sri @gautam_adani, Chairman @AdaniOnline on the sidelines of @wef's 54th Annual Meeting in #Davos.
— Telangana CMO (@TelanganaCMO) January 16, 2024
The hour-long meeting covered a plethora of exciting new business opportunities… pic.twitter.com/9JfclrKnnL
These investment decisions were announced after a meeting between Chief Minister A. Revanth Reddy and Gautam Adani during the World Economic Forum meeting in Davos. The Chief Minister, along with Industries and IT Minister D. Sridhar Babu, exchanged four memoranda of understanding with the Adani Group for the upcoming investments. The Chief Minister assured the Adani Group of the State Government's cooperation in providing necessary amenities, infrastructure, and support for the projects.
Gautam Adani praised the Telangana government for being extremely investor-friendly, and expressed confidence that with its planned policies, the state will attract more investments. He also stated that with the government's support, the Adani Group will continue to grow rapidly in Telangana.
