The Adani Group, an Indian multinational conglomerate originally started in Mumbai reacted to the CMO of Telangana and announced its investment of 12,400 Cr over a span of next 10 years. The group on Wednesday signed four memoranda of understanding (MoUs) with the Telangana government at the World Economic Forum in Davos, in the presence of Telangana Chief Minister A Revanth Reddy and Adani Group Chairman Gautam Adani.
The green energy projects
Adani Green Energy Ltd, the green energy arm of the Adani Group is all set to invest Rs 5,000 crore into setting up two pumped storage projects of 850 MW and 500 MW at Koyabestagudem and Nacharam. They are pumped storage project types of hydroelectric power generation where the water stored in reservoirs generates electricity during demand peaks. They also help in balancing the grid and integrating renewable energy.
The two projects will be first of its kind in Telangana and takes Telangana closer to achieve its target of 10,000 MW of renewable energy capacity by 2024. Not to speak of the employment they are going to create to the local population, both the projects are further going to enhance the status of the district with all round socio-economic development.
Defence sector
Adani Defence Systems & Technologies Ltd, the defence subsidiary of Adani Group, will invest Rs 1,000 crore over a decade in putting together a comprehensive ecosystem for research & development, design, manufacturing, and integration of counter-drone and missile systems. It's possible at the Hyderabad international airport-based Adani Aerospace Park.
The defence project will add to the counter-drone and missile technologies to their capabilities, which is essential for the national security and defence of the country. To overall knowledge, this defence project is also going to offer a stakeholdership of more than 1,000 jobs directly and indirectly, through innovation and skill development in the sector of defence.
Cement industry
The Adani Group's cement venture, Ambuja Cements Ltd is planning to invest Rs 1,400 crore in setting up a 6 million tonnes per annum (MTPA) cement plant in Telangana. Spread over 70 acres, the plant will use the best-of-breed technology and equipments to churn out the high-quality cement. The advent of south region Ambuja Cements in Rajasthan will also go a long way in significantly enhancing the company's north region presence while improving simultaneously the market share in the southern states of the country.
The cement plant will provide direct and indirect employment of almost 4,000 people and will cater the infrastructure and construction activities happening in the state. The plant will also be a friend of the environment as it will use fly ash in its manufacturing process thus reducing on carbon emissions.
Campus for processing of data centres
On the other hand, data centre arm of the Adani Group, AdaniConneX Data Centers, has signed an agreement to invest Rs 5,000 crore in setting up a 100 MW data centre campus at Chandanvelly in Telangana. The campus will comprise of several data center buildings catering to national and international customers for colocation and cloud services. The campus is powered fully by sources of renewable energy and equipped with facilities and security attributes catering to the most up to date cutting edge technology specifications.
At the same time, the campus of the data centre will yet meet the fast-growing demand upon the storage and handling of data under the strong pressure of the digital economy while at the same time promote the emerging information technologies as artificial intelligence, machine learning, internet of things, blockchain. It will also create around 600 indirect and direct employment and therefore attract more investments and talent to the state.
The initiative of the Government of Telangana
The government of Telangana welcomed the investments commitments of Adani Group and assured their fullest support and cooperation. He also hailed the group for their vision and contribution for the growth and development of the nation.
The investments will further enhance the industrial and economic growth of the state and provide employment to thousands of people as well as create livelihood opportunities for them. The government, too, has said that the investments will strengthen the position of the state as a leading business destination and an attractive investment destination in the country.
Vision from Adani Group
Earlier this year in April, the Adani Group had also expressed its buoyancy and faith over the investment-friendly atmosphere and policies of Telangana, thanking the state government for its support and facilitation. The Adani Group had also renewed its commitment to rapid and sustainable development in the state and the country.
The group has said the investments form part of its larger vision to invest Rs 7 lakh crore in diverse sectors all over India over the next one decade. The group has also said that these investments are in line with their core values as nation-building, social responsibility, and environmental stewardship. The group has also said that the investments will be creating value for their stakeholders and customers and will benefit broader society. –(IVNTV)