News Brief

Defying Rahul Gandhi? Congress-Led Telangana Government Signs MoUs Worth Rs 12,400 Crore With Adani Group In Davos

Nishtha Anushree

Jan 17, 2024, 03:00 PM | Updated 03:00 PM IST

Gautam Adani with Telangana CM Revanth Reddy
Gautam Adani with Telangana CM Revanth Reddy

While the Congress has continuously been targeting the Adani Group for 'crony capitalism', its government in Telangana signed MoUs worth Rs 12,400 crore with the Gautam Adani-led group soon after coming to power.

This happened at the World Economic Forum, Davos when Chief Minister Revanth Reddy-led Telangana government signed four MoUs (Memorandums of Understanding) with the Adani Portfolio of Companies.

Telangana CMO's official handle tagging Gautam Adani posted on X, "The hour-long meeting covered a plethora of exciting new business opportunities for Telangana across several sectors."

According to one of these MoUs, the Adani Group will invest Rs 5,000 crore in 100 MW data centre through its flagship firm Adani Enterprises, which will use green energy, The Hindu reported.

The other three MoUs were signed by Adani Green Energy, Ambuja Cements, and Adani Defence Systems. A cement grinding unit with annual capacity 6 metric tonne will be set up at a cost of Rs 1,400 crore.

Moreover, Adani Green will set up two pump storage projects using over Rs 5,000 crore, while Adani Defence and Aerospace will invest Rs 1,000 crore to set up counter-drone and missile facilities.

While attacking the Adani Group in October 2023, Congress leader Rahul Gandhi claimed that the Adani Group profited by Rs 32,000 crore at the expense of the Indian public.

Also read: NCP Chief Sharad Pawar Thanks Gautam Adani While Other INDI Alliance Parties Continuously Target The Group

Nishtha Anushree is Senior Sub-editor at Swarajya. She tweets at @nishthaanushree.

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