One of major investments comes from the Adani Group which exchanged four MoUs for investments amounting to Rs.12,400 crore over the next few years.
Published Date – 17 January 2024, 08:16 PM
Hyderabad: Telangana attracted investment proposals worth around Rs.36,670 crore on the second day at the World Economic Forum (WEF) Annual Summit in Davos on Tuesday. The State government signed memorandum of understanding (MoUs) with investment proposals from six companies in this regard.
On the sidelines of the WEF Annual Summit, Chief Minister A Revanth Reddy along with IT and Industries Minister D Sridhar Babu, met several investors including Adani Group chairman Gautam Adani, Godrej Industries chairman and managing director Nadir Godrej, JSW Group chairman Sajjan Jindal, Aragen Life Sciences whole-time director and CEO Manni Kantipudi, GODI India Private Limited founder and CEO Mahesh Godi, Iron Mountain CEO William Meaney and Web Werks CEO Nikhil Rathi, among others.
One of major investments comes from the Adani Group which exchanged four MoUs for investments amounting to Rs.12,400 crore over the next few years. While Adani Green Energy will invest Rs 5,000 crore for setting up two Pumped Storage Projects in Telangana of 1350 MW capacity, AdaniConneX Data Center will set up a Data Center campus of 100 MW in Chandanvelly with Rs 5,000 crore.
Further, Adani Group’s Ambuja Cements will establish a Rs 1,400 crore Cement Grinding unit in Telangana with a capacity of 6.0 MTPA (million tonnes per annum). Adani Aerospace and Defence will invest another Rs.1,000 crore in Counter Drone Systems and Missile Development and Manufacturing Centres at the existing Adani Aerospace and Defence Park in the State.
Godrej Group agreed to establish a Rs.1000 crore chemical plant in Telangana, in addition to establishment of India’s first commercial oil palm seed garden in Khammam. The new seed garden in Khammam, will have a capacity to produce 7 million saplings annually to support oil palm plantation in more than a million acres. The company is already setting up the country’s largest integrated oil palm processing complex with an investment of Rs 270 crore in first phase in Khammam.
Similarly, JSW Neo Energy, a subsidiary of JSW Energy, has announced setting up of a pumped storage project in Telangana, with an investment of Rs.9,000 crore at Telangana. The proposed project will have energy generation capacity of 1,500 MW.
GODI India Private Limited also announced establishment of a 12.5 GWh cell manufacturing with an investment outlay of Rs.8,000 crore for setting up of a Lithium and Sodium Ion and related technologies R&D and Giga scale cell manufacturing facility in Telangana, over a period of five years. The proposed project has employment generation potential of 6,000 persons in first phase.
Cementing Hyderabad’s position as the epicentre of for drug discovery and development services in Asia, Aragen Life Sciences has announced plans for expansion of its Mallapur facility in Telangana, with a fresh investment of Rs 2,000 crore. It is expected to create 1,500 new jobs.
Meanwhile, Web Werks, a fully-owned subsidiary of Iron Mountain, is establishing a 10 MW networking-heavy data center in Hyderabad, which is already underway. The company signed MoU promising a fresh investment of Rs 4,000 crore in a greenfield Hyperscale Data Centre in the State over next few years as part of its expansion.
Welcoming the investors to Telangana, Chief Minister Revanth Reddy assured the State government’s full support for these ventures, emphasising Telangana’s welcoming business environment and commitment to facilitating industrial growth. He stated that the fresh investments in Telangana reaffirms the new government’s resolve to building a next-level vibrant ecosystem, extraordinary infrastructure and rich talent pool. “We have successfully shown to business world that Telangana means business,” he said.
IT and Industries Minister D Sridhar Babu, Principal Secretary for IT and Industries Jayesh Ranjan, and Special Secretary for Investment Promotion Vishnu Vardhan Reddy, were also present.
Investments in Telangana at WEF
Adani Green Energy ———- Rs 5,000 crore
AdaniConneX Data Center —– Rs 5,000 crore
Ambuja Cements ————– Rs 1,400 crore
Adani Aerospace and Defence – Rs 1,000 crore
Godrej Group —————- Rs 1,270 crore
JSW Neo Energy ————– Rs 9,000 crore
GODI India Private Limited — Rs 8,000 crore
Aragen Life Sciences ——– Rs 2,000 crore
Web Werks ——————- Rs 4,000 crore
