Revanth Reddy invites Adani Group to invest in data centre and aerospace projects in Telangana

The delegation comprised Karan Adani, Ports and SEZ CEO, and Ashish Rajvanshi, Chief Executive Officer of Adani Defence and Aerospace.

ByRaj Rayasam

Published Jan 03, 2024 | 7:27 PMUpdatedJan 03, 2024 | 7:27 PM

A delegation from the Adani Group, along with Karan Adani, Ports and SEZ CEO, met Chief Minister Revanth Reddy in Hyderabad. (X)

The Congress government in Telangana on Wednesday, 3 January, extended a warm welcome to potential investments from the Adani Group.

The current government’s stance marks a departure from the previous BRS dispensation, which, in the wake of allegations of fraud by Hindenburg Research, a US-based investment firm, had closed its doors to the Adani Group.

The report claimed that Adani utilised offshore shell companies to artificially inflate its stock prices.

Adani is also the target of the Congress nationally, especially of its top leader Rahul Gandhi, who often accuses the group being a beneficiary of “crony capitalism” because of his proximity with Prime Minister Narendra Modi.

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Adani Group meets Telangana ministers

In a significant turn of events, a delegation from the Adani Group met with Chief Minister Revanth Reddy on Wednesday, expressing a keen interest in investing in Telangana. The discussions centred around the establishment of a data centre and an aerospace project.

The delegation comprising Karan Adani, Ports and SEZ CEO and son of group head Gautam Adani, and Ashish Rajvanshi, Chief Executive Officer of Adani Defence and Aerospace, engaged in fruitful talks with the chief minister.

Reassuring the delegation, Chief Minister Reddy affirmed that his government will provide the necessary infrastructure and incentives to facilitate the establishment of new industries. This, in turn, would create employment opportunities for the youth and catalyze industrial growth.

The Adani delegation conveyed its intention to continue existing projects, while seeking government cooperation to set up new industries. Emphasising its readiness to invest in Telangana, the Adani Group pledged support for the state’s industrial growth and employment generation.

Key figures present at the meeting included IT Minister D Sridhar Babu, Chief Secretary A Shanti Kumar, and IT Principal Secretary Jayesh Ranjan.

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