The Adani Group and the government of Telangana have signed four agreements committing investments in array of projects, including a data centre, clean energy project and a cement plant worth more than Rs 124 billion.
The memoranda of understanding (MoUs) were signed in Davos between Telangana chief minister Revanth Reddy and Gautam Adani, chairman, Adani Group at the World Economic Forum.
As part of the deal, Adani Enterprises Limited (AEL) will invest more than Rs 50 billion in a 100MW data centre, which would be powered by renewable energy and set up over five to seven years. AEL will work with businesses and startups in Telangana to develop a globally competent supplier base for the project. In addition, the data centre would provide direct and indirect employment to 600 people.
Furthermore, Adani Green Energy Limited (AGEL) will invest more than Rs 50 billion to set up two pump storage projects, Ambuja Cements will invest more than Rs 1.4 billion to set up a cement plant in the next five years, and Adani Defence Systems and Technologies Limited will invest more than Rs 10 billion to set up counter drone and missile facilities at the Adani Aerospace Park in Hyderabad.
