Telangana gets RS 37,600-cr investments at Davos

Hyderabad: The Telangana government on Wednesday signed several memorandums of understanding (MoUs) with leading global and domestic companies, securing a cumulative investment of Rs37,600 crore at the 64th annual conclave of the World Economic Forum (WEF) at Davos in Switzerland.

Telangana Chief Minister of Telangana A Revanth Reddy, who was present during signing of the agreements on third day of the conclave, welcomed the investments and assured the government’s full support for these ventures.

Diversified conglomerate Adani Group led from the front as it inked four MoUs with the Telangana government in presence of A Revanth Reddy and Adani Group Chairman Gautam Adani. In all, the group will invest Rs12,400 crore on a data centre, energy projects, a cement plant and others.

The conglomerate’s flagship firm Adani Enterprises will invest Rs5,000 crore in setting up a 100-MW data centre that will use green energy, while its renewable energy unit Adani Green Energy Ltd will spend an equivalent amount in setting up two pump storage projects - 850 MW at Koyabestagudem and 500 MW at Nacharam.

The group’s Ambuja Cements will put in Rs1,400 crore to build 6 million tonne a year (MTPA) cement plant. This would significantly enhance Ambuja’s capability and provide employment for over 4,000 people, both directly and indirectly. Further, Adani Defence and Aerospace will invest another Rs 1,000 crore to set up counter drone and missile facilities.

Welcoming the Adani Group to Telangana, Revanth Reddy, said: “It is a great pleasure to welcome the Adani group to Telangana. The eagerness of Gautam Adani to explore various possibilities and harnessing our strength is a welcome signal that top-notch conglomerates are eager to invest in Telangana. We have successfully shown to business world that Telangana means business.”

Gautam Adani, Chairman, Adani Group, said: “The new Government in Telangana under the leadership of Revanth Reddy has been extremely investor-friendly and with newly initiated policies, should attract more investments. Adani group will continue growing in Telangana at high pace.”

Meanwhile, JSW Neo Energy, a subsidiary of leading power producing company JSW Energy, has announced an investment of Rs 9,000 crore for setting up of a Pumped Storage Project in Telangana. A Memorandum of Understanding (MoU) was signed between the Government of Telangana and JSW Neo Energy at the World Economic Forum (WEF), Davos.

Sajjan Jindal, Chairman of JSW Group, met Revanth Reddy on the sidelines of WEF meet and announced the plan for setting up the project. The proposed project will have energy generation capacity of 1,500 MW.

Sajjan Jindal expressed his gratitude for the assurances to JSW and support from the Government of Telangana for their proposed project. He further stated that JSW is rapidly expanding in India and aims to further grow its presence in the State.

Godi India to invest

Rs 8,000 cr

Mahesh Godi, Founder & CEO, Godi India Private Limited, announced the setting up of a 12.5-GWh Lithium & Sodium Ion and related technologies R&D and Giga scale cell manufacturing facility in the State with an investment outlay of Rs 8,000 crore over a period of five years.