Adani’s Big Investments in Telangana: Green Energy, Cement Plant, and Defense Facilities
Newzdaddy Business Updates
A Green, Inclusive, and Transformative Vision for Telangana’s Economic Growth
In a significant move at the World Economic Forum 2024 in Davos, the Government of Telangana and the Adani Group, one of the world’s largest infrastructure conglomerates, have joined hands through four Memorandums of Understanding (MoUs), paving the way for investments exceeding Rs 12,400 crore. These agreements, signed in the presence of Telangana’s Chief Minister, Mr. Revanth Reddy, and Adani Group’s Chairman, Mr. Gautam Adani, aim to lay the foundations for a sustainable, green, inclusive, and transformative economic growth for Telangana.
Key Investments and Projects:
Adani Enterprises Limited (AEL): Rs 5,000 Crore Investment in a Green Data Centre
AEL is set to invest over Rs 5,000 crore in a 100 MW data center, emphasizing the use of renewable energy over the next 5-7 years. This ambitious project not only aligns with sustainable practices but also involves collaboration with local Micro, Small, and Medium Enterprises (MSMEs) and startups to build a globally competent supplier base. The project is expected to generate direct and indirect employment for approximately 600 people.
Adani Green Energy Limited (AGEL): Rs 5,000 Crore for Pump Storage Projects
AGEL’s investment of over Rs 5,000 crore will go into establishing two pump storage projects (PSPs) – 850 MW at Koyabestagudem and 500 MW at Nacharam. These projects signify a commitment to green energy solutions and contribute to the renewable energy landscape.
Ambuja Cements: Rs 1,400 Crore for a 6 MTPA Cement Plant
Ambuja Cements is set to invest Rs 1,400 crore in the next five years to build a 6 MTPA cement plant across 70 acres. This strategic move not only enhances Ambuja’s capabilities but also promises employment opportunities for over 4,000 people, both directly and indirectly.
Also Read: Gautam Adani Advocates Green Hydrogen for a Cleaner Tomorrow
Adani Defence Systems and Technologies Limited: Rs 1,000 Crore for Defense Facilities
Adani Defence Systems and Technologies Limited will invest over Rs 1,000 crore in the next 10 years to establish a comprehensive ecosystem for research, development, design, manufacturing, and integration of counter-drone and missile systems at the Adani Aerospace Park. This initiative aims to significantly enhance India’s defense capability and create employment for over 1,000 people.
These investments are poised to reshape Telangana’s economic landscape, fostering green and sustainable development while creating jobs and opportunities for businesses, both large and small.
Also Read:
Adani and Sirius Join Forces for India’s $175 Billion Digital Revolution
