Adani Group signs investment agreements worth Rs 62 thousand crore with Maharashtra, Telangana governments
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New Delhi: Adani Group companies have signed separate MoUs with both the governments to invest Rs 50,000 crore on a data center project in Maharashtra and Rs 12,400 crore on various projects, including a data center in Telangana. These agreements were signed by officials in Davos on Wednesday in the presence of the Chief Ministers of both the states and Adani Group chief Gautam Adani.
According to a release from the group, these agreements were signed on Wednesday at a separate ceremony on the sidelines of the World Economic Forum (WEF) annual conference in Davos, Switzerland. Telangana Chief Minister Revanth Reddy and Adani Group Chairman Gautam Adani were present on the occasion. According to the release, among these agreements, Adani Enterprises Limited (AEL) has signed an agreement with the Telangana government, under which it will invest Rs 5,000 crore in five to seven years to build a data center of 100 MW capacity in the state. It will be run on electricity from renewable energy sources and will provide direct employment to 600 people.
Similarly, group company Adani Green Energy Limited (AGEL) has also signed an agreement to invest in two pumped storage projects in the state at Koyabestagudem and Nacharam with power generation capacity of 850 MW and 500 MW respectively. Another agreement is for a 60 lakh tonne capacity cement factory in the state by Ambuja Cement with an investment of Rs 1400 crore in five years. 400 people will get employment in this. The fourth agreement has been signed by Adani Defense and Aerospace, under which it will set up a drone and anti-missile attack system factory in the state with an investment of Rs 1,000 crore. In Daos itself, the group signed an agreement with the Maharashtra government to set up a large data storage center of one giga watt (one thousand megawatt) capacity in the state with an investment of Rs 50 thousand crore.
According to a group release, the agreement was signed by group company AEL and officials of the Maharashtra government. Chief Minister Eknath Shinde and Adani Group chief Gautam Adani were present on this occasion. Adani Group has said that its data storage facilities in Maharashtra will be at important centers like Mumbai, Navi Mumbai and Pune. The target is to develop them in 10 years and this will provide direct and indirect employment opportunities to 20 thousand people in the state. These will be operated on green energy.
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