Adani Group to invest Rs 12,400 cr in Telangana, Rs 1,000 cr earmarked for drone systems, missile development

Adani Group Chairman Gautam Adani met newly elected Telangana CM A. Revanth Reddy at the World Economic Forum in Davos and declared that the conglomerate will invest Rs 12,400 crore in multiple businesses in the state. A delegation of Telangana ministers and officials, which included D Sridhar Babu, minister of ITE&C, industries, exchanged four MoUs with the Adani Group officials.

Adani Group's ambitious plans include Adani Green Energy's Rs 5,000 crore investment in setting up two pumped storage projects of 1350 MW capacity in the state.

AdaniConneX Data Centers is scheduled to invest Rs 5,000 Crores for a Data Center campus in Chandanvelly with a total capacity of 100 MW, while Ambuja Cements will invest Rs 1,400 crore in a Cement Grinding unit with a capacity of 6.0 MTPA in the state.

Adani Aerospace and Defence is scheduled to invest Rs 1,000 crore in Counter Drone Systems and Missile Development and Manufacturing Centres at the Adani Aerospace and Defence Park.

Gautam Adani, Chairman, Adani Group, said: “The new government in Telangana has been extremely investor friendly and with the new planned policies, should attract more investments. Adani group will continue growing in Telangana at a high pace with the provided.”

The Adani Group has been pitching Hyderabad as the new focal point for manufacturing missiles and unmanned vehicles and had initially said it would invest an additional Rs 1,500 crore over the next two to three years.

Earlier, Adani Group said it would engage in the production of long-range missiles, naval missiles, next-generation anti-radiation missiles, and Rudram-2 hypersonic missiles in Hyderabad. Ashish Rajvanshi, CEO of Adani Defence & Aerospace, had earlier said: "Unmanned systems for the ground and water is the next focus area for Adani group."

He added that the group will be participating in the MAKE-2 program for the Indian Navy, emphasizing the development of an unmanned ground vehicle designed to ease infantry stress.

Last week, Indian Navy chief Admiral R Hari Kumar unveiled the Drishti 10 Starliner Unmanned Aerial Vehicle indigenously manufactured by Adani Defence and Aerospace at the company's Aerospace Park in Hyderabad. The firm said the UAV will fly from Hyderabad to Porbandar to be inducted into the naval maritime operations.

Earlier this month, Adani Group held discussions with the Telangana government to set up a data centre and aerospace park in the state. Adani Group representatives led by CEO of Adani Ports and SEZs Karan Adani and CEO of Defence and Aerospace Ashish Rajvanshi met CM Reddy.

The chief minister had assured that the state government would provide the required amenities, infrastructure and subsidies to new industries to promote industrial growth and create more employment opportunities.

At 1 PM on Wednesday, shares of Adani Enterprises were trading at Rs 2,991.50, down by 2.15 per cent.

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