Gautam Adani, Chairman of Adani Group, met with Telangana’s newly elected Chief Minister, A. Revanth Reddy, at the World Economic Forum in Davos. During this meeting, Adani announced the conglomerate’s plan to invest Rs 12,400 crore in various sectors within Telangana. This announcement followed the signing of four Memorandums of Understanding (MoUs) between a delegation of Telangana ministers, including ITE&C and Industries Minister D Sridhar Babu, and officials from Adani Group.

The investment plan of Adani Group is multifaceted, focusing on several key areas. Adani Green Energy is set to invest Rs 5,000 crore in developing two pumped storage projects with a combined capacity of 1350 MW. Additionally, AdaniConneX Data Centers plans to invest a similar amount in building a Data Center campus in Chandanvelly, which will boast a total capacity of 100 MW. Ambuja Cements is committed to investing Rs 1,400 crore in establishing a Cement Grinding unit with a 6.0 MTPA capacity.

Moreover, Adani Aerospace and Defence is poised to invest Rs 1,000 crore in developing Counter Drone Systems and Missile Development and Manufacturing Centres at its Aerospace and Defence Park. This move aligns with the Group’s ambition to establish Hyderabad as a central hub for manufacturing missiles and unmanned vehicles. They have previously announced plans to invest an additional Rs 1,500 crore over the next two to three years in the production of various missiles, including long-range, naval, and anti-radiation missiles, as well as the Rudram-2 hypersonic missile.

Ashish Rajvanshi, CEO of Adani Defence & Aerospace, highlighted the Group’s focus on unmanned systems for ground and water, and their participation in the Indian Navy’s MAKE-2 program, which includes the development of an unmanned ground vehicle.

Also Read | The Adani Group may participate in upcoming airport auctions

Recently, Admiral R Hari Kumar, the Indian Navy chief, unveiled the Drishti 10 Starliner Unmanned Aerial Vehicle, a product of Adani Defence and Aerospace, at their Hyderabad Aerospace Park. This UAV is set to operate from Hyderabad to Porbandar, integrating into naval maritime operations.

Earlier discussions between Adani Group and the Telangana government centred around establishing a data centre and aerospace park in the state. The state government, under CM Reddy, has promised to provide necessary amenities, infrastructure, and subsidies to foster industrial growth and employment.

In related news, Adani Enterprises’ shares were trading at Rs 2,991.50, marking a 2.15 per cent decrease, as of 1 PM on Wednesday.