Adani plans to spend Rs 12,400 crore in Telangana's electricity and data center projects

Adani plans to spend Rs 12,400 crore in Telangana's electricity and data center projects

Adani plans to spend Rs 12,400 crore in Telangana's electricity and data center projects

At the World Economic Forum in Davos, the group inked four memorandums of understanding (MoUs) for investments in the presence of Adani Group Chairman Gautam Adani and Chief Minister of Telangana Revanth Reddy.

MoU worth $1.49 billion is signed by Adani Group firms with the Telangana government.

The Adani Group said on Wednesday that it will spend more than Rs 12,400 crore in a number of Telangana projects, including cement factories, data centers, and sustainable energy initiatives.

At the World Economic Forum in Davos, the group inked four memorandums of understanding (MoUs) for investments in the presence of Adani Group Chairman Gautam Adani and Chief Minister of Telangana Revanth Reddy.

The group's main company, Adani Enterprises, plans to invest Rs 5,000 crore to build a 100 MW green energy data center. Adani Green Energy Ltd, the company's renewable energy division, would utilize the same funds to establish two pumped storage projects.

The group's Adani Defense & Aerospace would spend Rs 1,000 crore to establish anti drone and missile capabilities, while Ambuja Cements will invest Rs 1,400 crore to create a 6 million tonne per year (MTPA) cement plant.

"Adani Portfolio Companies, which is among the world's largest infrastructure groups, alongside the Telangana government signed four MoUs that collectively total over Rs 12,400 crore at the World Economic Forum 2024," the company said in a statement.

These Memorandums of Understanding will contribute to laying the groundwork for Telangana's inclusive, green, sustainable, and revolutionary economic development." In the future, Adani Enterprises Limited (AEL) plans to establish a 100 MW data center that will run entirely on renewable energy. five to seven years.It will collaborate closely with regional MSMEs and startups to create an internationally competitive supplier base for the project, which will create 600 jobs both directly and indirectly.

Adani Green Energy Limited (AGEL) intends to establish two pumped storage projects (PSP): the 500 MW project at Nacharam and the 850 MW project in Koyabestgudem.

In the next five years, Ambuja Cements plans to construct a 70-acre cement facility with a 6 MTPA capacity.

Ambuja's capacity will be greatly increased as a result, and over 4,000 people will get direct and indirect jobs.

"Adani Defense Systems & Technologies would spend more than Rs 1,000 crore over a ten-year period to create a full ecosystem at the Adani Aerospace Park for anti drone and missile system research, development, design, production, and integration.

According to the statement, the ecosystem created by these initiatives would greatly improve India's military capabilities and provide jobs for over 1,000 people.

The Adani Group, which has its headquarters in Ahmedabad, is the largest and fastest-growing conglomerate of diversified businesses in India. Its businesses span a wide range of industries, including infrastructure, agriculture (commodities, edible oils, food products, cold storage, as well as grain silos), real estate, public transportation infrastructure, consumer finance, and defense, among others.