The Adani group will invest Rs 12,400 crore in multiple projects in Telangana that include a data centre, clean energy plant and cement unit.

The Gujarat-based conglomerate signed four memorandums of understanding (MoUs) with the state on Wednesday at the World Economic Forum in Davos. This was done in the presence of Telangana chief minister Revanth Reddy and Adani Group chairman Gautam Adani.

A statement from the group said its flagship firm Adani Enterprises Ltd (AEL) will put Rs 5,000 crore in a 100MW data centre that will be powered by green energy.

While it will be established over the coming five-seven years, AEL will work with local MSMEs and start-ups to develop a supplier base for the project. It is expected to provide employment, both direct and indirect, to 600 people.

Its renewable energy arm Adani Green Energy Ltd will spend a similar amount in setting up two pump storage projects.

Ambuja Cements will invest Rs 1,400 crore in a cement plant with annual capacity of 6 million tonnes a year. It will come up in five years and set up across 70 acres.

Adani Defence Systems and Technologies Ltd 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 Adani group also signed an MoU with the Maharashtra government at Davos. Adani Enterprises will set up a 1GW data infrastructure in the state at an investment of Rs 50,000 crore over 10 years.

Meanwhile, AEL disclosed that it has increased its stake in news agency IANS. The conglomerate had last month picked up a 50.50 per cent stake in IANS. It has now raised the shareholding to 76 per cent with voting rights and to 99.26 per cent without voting rights.

Web Werks

Web Werks India proposes to invest Rs 20,000 crore to set up a data centre park in Bangalore, according to an MoU the company signed with the Karnataka government at Davos.