Windfall for TS at WEF

Hyderabad: The State Government has entered into several MOUs with leading global and domestic companies securing cumulative investment commitments of more than Rs 37,600 crore at the World Economic Forum (WEF) at Davos on Wednesday.

India’s richest Adani Group has announced to invest over Rs 12,400 crore in an array of projects including a data centre, clean energy project, and a cement plant in Telangana. The group signed four MoUs for the investments in presence of Chief Minister A Revanth Reddy and Adani Group chairman Gautam Adani.

Adani Enterprises will invest Rs 5,000 crore in setting up a 100-MW data centre that will use green energy while its renewable energy unit Adani Green Energy Ltd will spend an equivalent amount in setting up two pump storage projects of 850 MW at Koyabestagudem and 500 MW at Nacharam.

Adani Defence Systems and Technologies will invest over Rs 1,000 crore in 10 years to set up a comprehensive ecosystem for the research, development, design, manufacturing and integration of counter drone and missile systems at the Adani Aerospace Park. The ecosystem developed through these projects would significantly enhance the defence capability of India and would provide employment to over 1,000 people.

Ambuja Cements will put in Rs 1,400 crore to build a 6-million tonne a year (MTPA) cement plant and Adani Defence and Aerospace will invest another Rs 1,000 crore to set up counter drone and missile facilities. This would significantly enhance Ambuja's capability and provide employment for over 4,000 people, both directly and indirectly.

JSW Neo Energy, a subsidiary of leading power producing company JSW Energy, has announced an investment of Rs 9,000 crore for setting up of a 1,500-MW Pumped Storage Project in Telangana.

Among other announcements were Mahesh Godi, Founder and CEO, GODI India Private Limited said it would set up of a 12.5-GWh Lithium and Sodium Ion and related technologies R&D and Giga scale cell manufacturing facility in the State with an investment outlay of Rs 8,000 crore over a period of five years. The proposed project has employment generation potential of 6,000 in phase-1.

The project aims to have a 2.5 Gwh cell assembly line in phase-1, with planned expansion up to 10 Gwh in phase-2.

Web Werks, a fully owned subsidiary of Iron Mountain, announced an investment of Rs 5,200 crore in Telangana to establish data centres over the next few years. Web Werks will invest Rs 1,200 crore in a 10 MW networking-heavy data centre in Hyderabad. This investment is already underway. It will expand over the next few years by investing over Rs 4,000 crore in a greenfield Hyperscale Data Center in Telangana.

Aragen Life Sciences announced plans for expansion with a new investment of Rs 2,000 crore and creating 1,500 new jobs. The investment would help the firm further expand its existing facility in Mallapur, near Hyderabad. The expansion is primarily targeted towards drug discovery, development and manufacturing activities for the global life sciences industry.

Nadir Godrej, CMD of Godrej Industries Ltd, expressed keen interest in bolstering the Group's footprint in Telangana through strategic investments. He announced plans to establish a Rs 1000-crore chemical plant in the State. Other key areas discussed included collaborative ventures in skill development, real estate development projects, and expanding the creamline dairy business.

Godrej is already investing Rs 270 crore in setting up one of India’s largest integrated oil palm processing complex first phase in Khammam district.

It has recently announced a joint venture with the Malaysian oil palm giant Sime Darby. As a part of this JV, Godrej will be setting up India’s first commercial oil palm seed garden in Khammam, Telangana.