Adani Group's Rs 50,000 Cr Maharashtra Investment To Focus On Defense, Energy & Power Sectors

Just about a week after announcing Rs 2 lakh crore investment plan for Gujarat, the Adani group has announced another mega investment for another state. This time its for Maharashtra, the state which houses India's financial capital city of Mumbai.

Adani Group To Invest Rs 50,000 Crore In Maharashtra

gautam adani maharashtra cm eknath shinde/abp

Adani group's flagship company Adani Enterprises has announced that it will invest Rs 50,000 crore in Maharashtra over the next 10 years to set up 1 GW of hyperscale data infrastructure,

The MOU (Memorandum of Understanding) between the state government of Maharashtra and Adani group was signed in the presence of Maharashtra¡¯s CM Eknath Shinde and Adani group¡¯s chairman Gautam Adani at the ongoing World Economic Forum (WEF) 2024, which ends on 19th January.

20,000 People Expected To Get Employment

As many as 20,000 people are expected to have direct and indirect employment thanks to the infrastructure for this data center in Maharashtra, which will be built up in Mumbai, Navi Mumbai, or Pune. The proposed 1 GW hyperscale data center infrastructure will be powered by deemed distribution investments, according to a statement from the Adani Group.

Also Read: List Of All Companies That Come Under Adani Group

Adani Group To Also Invest Rs 12,400 Crore In Telangana

Adani Group to invest 1,400 crore in Telangana/hbl

On the same day it announced the mega plan for Maharashtra, the Adani group also revealed the plan to make an investment of Rs 12,400 crore in Telangana. Adani group's flagship company Adani Enterprises will invest over Rs 5,000 crore in a 100 MW data centre in Telangana.

Defense, Energy & Power Sectors To Play Key Roles

adani group investment different states/indiatimes

The utilization of renewable energy for powering the Maharashtra project is expected to augment the state's green energy infrastructure. Large-scale initiatives such as these have enabled Mumbai's transition to renewable energy and fit in nicely with the city's wider sustainability objectives, which in turn support India's larger targets for renewable energy. as per the Adani group .

Besides being a major boost for the power sector (through the set up 1 gigawatt) of hyperscale data infrastructure in Maharashtra, Adani group's latest string of investment announces will have the defense and energy sectors playing a key role too.

For Telangana, in order to establish a comprehensive ecosystem for the research, development, design, manufacturing, and integration of counter-drone and missile systems at the Adani Aerospace Park, Adani Defence Systems and Technologies will also invest more than Rs 1,000 crore over the course of ten years.

While Ambuja Cements will invest Rs 1,400 crore to build a 6 MTPA cement plant in the state over the next five years, Adani Green Energy will invest over Rs 5,000 crore to set up two pump storage projects (PSPs)¡ª850 MW at Koyabestagudem and 500 MW at Nacharam.

Also Read: How Gautam Adani Earns Money: Inside His $96 Billion Net Worth

For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here.