DAVOS - The Indian state of Telangana has garnered investment proposals worth Rs 36,670 crore during the World Economic Forum in Davos, with significant commitments from major industry players. The Adani Group, a conglomerate with interests across various sectors, has announced a substantial investment plan that includes a focus on renewable energy and technology.
The Group's renewable energy arm, Adani Green Energy, is set to invest Rs 12,500 crore in two pumped storage projects. These projects are part of the broader green energy initiative that the Group is undertaking as the world moves towards more sustainable energy solutions. Additionally, AdaniConneX, another subsidiary of the Adani Group, will be establishing a data center project, further emphasizing the Group's investment in the technology sector.
The Adani Group's investment spree in Telangana also extends to the defense sector, with proposed investments in counter-drone technology and missile development. This move signifies the Group's diversification and interest in contributing to the strategic sectors of the Indian economy.
Moreover, the cement industry in Telangana is set to receive a boost with Ambuja Cements planning to invest Rs 1,400 crore in a new cement grinding unit. This unit, which will have a capacity of 6 million tonnes per annum (MTPA), is expected to support the growing infrastructure needs of the region.
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