The Congress, known for its criticism of the Adani Group for alleged ‘crony capitalism,’ faced irony as the newly-elected government in Telangana, led by Chief Minister Revanth Reddy, entered into MoUs totaling Rs 12,400 crore with the Gautam Adani-led group shortly after assuming power. This development took place at the World Economic Forum in Davos, where four Memorandums of Understanding (MoUs) were signed between the Telangana government and various companies under the Adani Portfolio.
The official handle of Telangana Chief Minister’s Office, in a post on X, mentioned, “The hour-long meeting covered a plethora of exciting new business opportunities for Telangana across several sectors.”
As per the details of the MoUs, the Adani Group is set to invest Rs 5,000 crore in a 100 MW data center, utilizing green energy through its flagship firm Adani Enterprises. The remaining three MoUs involve Adani Green Energy, Ambuja Cements, and Adani Defence Systems. Among them, a Rs 1,400 crore cement grinding unit with an annual capacity of 6 metric tonnes will be established. Additionally, Adani Green plans to initiate two pump storage projects with an investment exceeding Rs 5,000 crore, while Adani Defence and Aerospace will allocate Rs 1,000 crore for establishing counter-drone and missile facilities.
In October 2023, Congress leader Rahul Gandhi accused the Adani Group of gaining profits worth Rs 32,000 crore at the expense of the Indian public, emphasizing the ongoing tension between the political narrative and economic partnerships involving the Adani conglomerate.
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