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Adani Group, in a significant development at the World Economic Forum in Davos, Switzerland, has inked four Memorandums of Understanding (MoUs) with the Telangana government, signaling a substantial investment commitment of Rs 12,400 crore. The formalized agreements were exchanged between Chief Minister Revanth Reddy and Adani Group Chairman Gautam Adani, accompanied by IT and Industries Minister D. Sridhar Babu.
Adani Enterprises Ltd, the conglomerate’s flagship entity, is earmarking a Rs 5,000 crore investment for the construction of a 100 MW data center powered by green energy. Simultaneously, Adani Green Energy Ltd plans to allocate an equivalent amount for two pumped storage projects. Ambuja Cements is dedicating Rs 1,400 crore for the establishment of a 6 MTPA cement plant, while Adani Defence and Aerospace are contributing Rs 1,000 crore for the creation of counter-drone and missile facilities.
This collaborative initiative is strategically designed to stimulate economic growth in Telangana, emphasizing a green, sustainable, inclusive, and transformative trajectory. Adani Enterprises will actively engage with local MSMEs and startups, fostering the development of a globally competitive supplier base for their 100 MW data center project. The venture is expected to generate significant direct and indirect employment opportunities, with a target of 600 individuals over the next 5-7 years. |
