Adani Group inks four Memorandums of Understanding (MoUs) with the Telangana government at the World Economic Forum 2024, committing an investment exceeding Rs 12,400 crore. The agreements involve Adani Enterprises, Adani Green Energy, Ambuja Cements, and Adani Defence Systems & Technologies. At Davos, the Chief Minister actively attracts investments to Telangana, fostering collaboration among enterprises, governments, and stakeholders. Gautam Adani’s conglomerate officially announced the investment exceeding Rs 12,400 crore in a statement released on Wednesday.
Telangana Government and Gautam Adani Seal Groundbreaking Deals
Telangana’s recently elected Chief Minister, Revanth Reddy, and Adani Group Chairman, Gautam Adani, finalize a significant agreement during the ongoing World Economic Forum in Davos.
As part of the deal, Adani Group will inject over Rs 5,000 crore into a 100 MW data centre in the state, slated to be powered by renewable energy over the next 5-7 years. This initiative is anticipated to generate employment for approximately 600 people directly and indirectly.
Furthermore, Adani Green Energy commits to investing over Rs 5,000 crore in establishing two pumped storage projects, with capacities of around 850 MW at Koyabestagudem and 500 MW at Nacharam.
In the forthcoming decade, Adani Defence Systems & Technologies commits an investment exceeding Rs 1,000 crore towards research, development, design, manufacturing, and integration of counter-drone and missile systems at the Adani Aerospace Park. The company asserts that this ambitious project will yield over 1,000 jobs.
Chief Minister Reddy Engages with CEOs at WEF 2024 for Collaborative Progress
On Wednesday, Chief Minister Reddy actively met with several CEOs, including NASSCOM President Debjani Ghosh, Vasant Narasimhan from Medtronic, and WEF CEO Geoff Martha. As reported by the CMO on’ X’, the Chief Minister conveyed insights on fostering collaboration among enterprises, governments, and stakeholders to improve human conditions for a prosperous and better life.
In an earnest endeavour to attract investments to the state, Reddy spearheads a Telangana delegation at WEF 2024, engaging with officials and business executives.
During a meeting on Monday, the Chief Minister actively engaged with NASSCOM President Ghosh to discuss the state’s forthcoming emphasis on skill development. State Industries Minister D Sridhar Babu was also present during the productive discussion.