Adani Group signed agreements with the government of Telangana, committing investments of more than Rs 12,400 crore or approximately $1.5 billion through multiple businesses in the state over the next few years. 

Adani Group officials and a delegation of Telangana ministers and officials signed 4 Memorandums of Understanding (MoUs) at the World Economic Forum in Davos, in the presence of the newly elected Telangana Chief Minister Revanth Reddy and Group Chairman Gautam Adani. 

Adani Green Energy will invest Rs 5,000 crore to set up two pump storage projects of 1350 MW capacity in the state, one of 850 megawatts (MW) at Koya Bestagudem and another of 500 MW at Nacharam. 

Adani Defence Systems and Technologies is scheduled to invest Rs 1,000 crore in 10 years to set up a comprehensive ecosystem for the research, development, design, manufacturing and integration of Counter Drone Systems and Missile Development and Manufacturing Centres at the Adani Aerospace and Defence Park in Hyderabad. 

The group’s cement company, Ambuja Cements, will invest Rs 1,400 crore in a cement grinding unit set up across 70 acres with a capacity of 6 million tonnes per annum in the state. The commitments also include a Rs 5,000 crore investment by AdaniConneX to set up a 100-MW Data Center campus in Chandanvelly.