At Davos, Telangana seals over Rs 36K cr investment deals; Adani commits Rs 12.4K

HYDERABAD: Telangana government announced on Wednesday that it clinched investments worth over Rs 36,500 crore at the World Economic Forum (WEF) at Davos, from both international and national players. The international companies include Iron Mountain and its Indian joint venture partner Web Werks. Indian multinational conglomerates such as Adani Group and JSW Group, Aragen Life Sciences and GODI India too lined up big investments.
These investment commitments span green energy and mobility, life sciences, defence and aerospace, data centres and cement sectors. While the Adani Group committed to cementing its presence in Telangana with memoranda of understanding (MoUs) being signed for fresh investments worth Rs 12,400 crore, JSW Group signed an MoU for investing Rs 9,000 crore in a pumped storage project.
Iron Mountain and Web Werks inked an MoU for investing ₹5,200 crore in setting up data centres, including a ₹1,200 crore investment in a 10MW networking heavy data centre project in Hyderabad. The announcements were made after Adani Group chairman Gautam Adani, JSW Group chairman Sajjan Jindal, Iron Mountain CEO William Meaney and Web Werks CEO Nikhil Rathi met the Telangana delegation led by CM A Revanth Reddy.
Revanth also met Godrej Industries chairman NadirGodrej who evinced interest in expanding their existing footprint in the state, including a ₹1,000 crore invest-ment in setting up a chemical plant, as well as ventures in realty, dairy businesses and skill development.
The Adani Group inked four MoUs in the presence of Gautam Adani, who lauded Telangana for its investor-friendly climate under the new chief minister.
While Adani Enterprises Ltd will be investing ₹5,000 crore in a green energy powered 100MW data centre at Chandanvelly over the next five years and will create 600 jobs, Adani Green Energy Ltd will be pumping in ₹5,000 crore in setting up two pump storage projects of 850MWand 500MW capacity each at Koyabestagudem in Khammam and Nacharam in Hyderabad, respectively.
On the other hand, Adani Defence Systems & Technologies Ltd will be injecting ₹1,000 crore over the next 10 years in setting up a comprehensive ecosystem for the research, development, design, manufacturing and integration of counter drone and missile systems at the Adani Aerospace Park.
Another Adani Group company, Ambuja Cements, will be investing ₹1,400 crore in setting up a 6 million tonnes per annum cement plant spread over 70 acres that will create 4,000 jobs, Adani Group said. Apart from these, Telangana government said Adani Group has also agreed to support the CM’s goal of creating skilling universities in the state.
CM Revanth Reddy said, “The eagerness of Gautam Adani garu to explore various possibilities is a welcome signal that top-notch conglomerates are eager to invest in Telangana. We have successfully shown to the business world that ₹Telangana Means Business’.”
The day also saw JSW Neo Energy, a subsidiary of JSW Energy, ink an MoU with Telangana for investing Rs 9,000 crore in setting up a pumped storage project that will have an energy generation capacity of 1,500MW.