HYDERABAD: The Adani Group will invest Rs 12,400 crore in Telangana in the next few years in green energy, data centres, cement manufacturing and aerospace and defence sectors.
Besides, Aragen Life Sciences, GODI India Pvt Ltd, JSW Neo Energy, Web Werks and Godrej announced investments worth Rs 2,000 crore, Rs 8,000 crore, Rs 9,000 crore, Rs 5,200 crore and Rs 1,000 crore respectively into the state.
MoUs with the Adani Group were signed in the presence of Chief Minister A Revanth Reddy, group chairman Gautam Adani, IT and Industries Minister D Sridhar Babu and Adani Aerospace and Defence president and CEO Ashish Rajvanshi at the World Economic Forum in Davos, Switzerland on Wednesday.
As per the MoUs, Adani Green Energy will invest Rs 5,000 crore for setting up two pumped storage projects in Telangana of 1,350 MW capacity, AdaniConneX Data Centres will invest Rs 5,000 crore to set up a data centre campus at Chandanvelly with a total capacity of 100 MW and Ambuja Cements Ltd will invest Rs 1,400 crore in a cement grinding unit in Telangana with a capacity of 6.0 MTPA.
Adani Aerospace and Defence will invest Rs 1,000 crore in counter-drone systems and missile development and manufacturing centres at the Adani Aerospace and Defence Park.
Besides the MoUs, the Adani Group also agreed to support the chief minister’s goal of creating skilling universities in Telangana. The Adani Group is likely to develop an integrated state-of-the-art skilling university in the state.
After the CM met JSW Group chairman Sajjan Jindal, JSW Neo Energy, a subsidiary of JSW Energy, announced the setting up of a pumped storage project in the state, with an investment of Rs 9,000 crore.
Revanth also met Nadir Godrej, the chairman & managing director of Godrej Industries Ltd. Nadir Godrej agreed to invest Rs 1,000 crore in the group’s chemical plant. The group will also set up an integrated oil palm processing complex with an investment of Rs 270 crore in the first phase in Khammam district.
Assuring Adani that the state government will provide the required amenities, infrastructure and support for the projects, the chief minister said, “It is a great pleasure to welcome the Adani Group to Telangana. The eagerness
of Gautam Adani garu to explore various possibilities and harness our strength is a welcome signal that top-notch conglomerates are eager to invest in Telangana. We have successfully shown to the business world that Telangana means Business.”
Gautam Adani said: “The new government in Telangana under the leadership of Revanth Reddy garu has been extremely investor-friendly and with newly initiated policies should attract more investments. Adani Group will continue growing in Telangana at a high pace.”
Similarly, the chief minister and his team attracted other significant investments from top players.
The state government entered an MoU with the Aragen Life Sciences. Aragen will invest Rs 2,000 crore and create 1,500 new jobs in the state.
Talks between Revanth and Mahesh Godi, the founder and CEO of GODI India Pvt Ltd, resulted in the latter agreeing to invest Rs 8,000 crore to set up a 12.5 GWh cell - lithium and sodium ion and related technologies R&D and giga scale cell manufacturing facility in Telangana over five years.
The chief minister also held a meeting with the CEO of Iron Mountain, William Meaney, and the CEO of Web Werks, Nikhil Rathi and exchanged an MoU for data centre investments amounting to a total of Rs 5,200 crore over the next few years.
Web Werks, a fully owned subsidiary of Iron Mountain, will invest Rs 1,200 crore in a 10 MW networking-heavy data centre in Hyderabad. This investment is already underway.