Davos (Switzerland): Davos witnessed a significant milestone at the World Economic Forum 2024 as the Government of Telangana and Adani Portfolio of Companies inked four Memorandums of Understanding (MoUs), collectively valued at over Rs 12,400 crore.
The momentous agreements, formalized in the presence of Telangana's Chief Minister, Revanth Reddy, and Adani Group's Chairman, Gautam Adani, represent a pivotal step towards fostering green, sustainable, inclusive, and transformative economic growth in the region.
Adani Enterprises Limited (AEL), in a groundbreaking commitment, pledged an investment exceeding Rs 5,000 crore for the establishment of a state-of-the-art 100 MW data centre over the next 5-7 years. Emphasizing sustainability, the data center will operate on renewable energy sources, with AEL fostering collaboration with local Micro, Small, and Medium Enterprises (MSMEs) and startups to create a globally competitive supplier base, generating employment opportunities for 600 individuals.
Adani Green Energy Limited (AGEL) announced a significant investment exceeding Rs 5,000 crore for the creation of two pump storage projects (PSPs). With capacities of 850 MW at Koyabestagudem and 500 MW at Nacharam, these projects underscore AGEL's commitment to environmentally conscious practices and fortifying the state's energy infrastructure.
Ambuja Cements, in the third MoU, detailed a Rs 1,400 crore investment to construct a cutting-edge 6 Million Tonnes Per Annum (MTPA) cement plant in the next five years. Spanning 70 acres, the plant is poised to substantially enhance Ambuja's production capabilities, providing employment opportunities for over 4,000 individuals.
Adani Defense Systems and Technologies Limited made a significant commitment, pledging over Rs 1,000 crore for the next decade. Focused on establishing a comprehensive ecosystem for research, development, design, manufacturing, and integration of counter-drone and missile systems, the Adani Aerospace Park will serve as a hub for critical defense capabilities, contributing to India's defense preparedness and generating employment for over 1,000 people.
The collective signing of these MoUs symbolizes a collaborative effort aimed at driving economic prosperity, technological advancement, and employment generation in Telangana. The strategic alignment between the state government and Adani's diverse portfolio reflects a shared vision for sustainable development and innovation, anticipating transformative economic activities that position Telangana as a key player in India's growth trajectory.
—Input from Agencies