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Adani Group inks four MoUs worth Rs 12,400 cr with Telangana govt

Wednesday, 17 Jan 2024
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Adani Group has signed four memorandums of understanding (MoUs) with the Telangana government for an investment of over Rs 12,400 crore in Davos during the ongoing World Economic Forum 2024.

As a part of the agreement, Adani Enterprises will invest over Rs 5,000 crore in a 100 MW data centre in the state, which will be powered by renewable energy over five to seven years. With this, the company expects to provide employment opportunities for around 600 people, both direct and indirect.

Moreover, Adani Green Energy (AGEL) will infuse around Rs 5,000 crore to establish two pump storage projects of 850 MW at Koyabestagudem and 500 MW at Nacharam. Ambuja Cements will set up a six MTPA cement plant for Rs 1,400 crore, creating employment for over 4,000 people. The upcoming plant, spanning over 70 acres of land, will be set up over the next five years.

In the next ten years, Adani Defence Systems & Technologies will invest over Rs 1,000 crore towards research, development, design, manufacturing and integration of counter-drone and missile systems at the Adani Aerospace Park and generate over 1,000 jobs.

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