Hyderabad: The Telangana government is likely to reconsider the agreements and Memorandums of Understanding (MoUs) it has signed with the Adani Group, following allegations against industrialist Gautam Adani in the United States. The US Department of Justice and FBI have accused Adani of being involved in a $265-million bribery scheme to secure favorable terms for solar power contracts.
Sources indicate that the Telangana government is taking a serious look at senior Congress leader Rahul Gandhi’s recent statement. Gandhi urged Congress-ruled states to investigate agreements made by previous governments with the Adani Group. This has prompted the state government, led by Revanth Reddy, to review its own agreements with the company to avoid any potential legal complications.
Officials suggest that the government’s decision on continuing its agreements with the Adani Group could come up during the upcoming Assembly session in December. The focus will be on the legal implications and whether contracts signed with the group remain viable in light of the allegations. It is being speculated that the government may only proceed with Adani investments that do not raise legal concerns.
The Adani Group had earlier committed significant investments in Telangana across various sectors. These included plans for datacenters, cement plants, and aerospace parks. At the World Economic Forum in Davos earlier this year, the company signed four agreements with the Telangana government, amounting to a total investment of ₹12,400 crore.
Among the planned investments, ₹5,000 crore was allocated for two pumped storage projects with a combined capacity of 1,350 MW. Another ₹5,000 crore was earmarked for a 100 MW datacenter powered by renewable energy. Additionally, Ambuja Cements, a subsidiary of the Adani Group, proposed setting up a 6 MTPA cement plant at a cost of ₹1,400 crore on 70 acres of land. The Adani Defence Systems and Technologies division also planned to invest over ₹1,000 crore in the development, design, and manufacturing of counter-drone and missile systems at its Aerospace Park.
The Telangana government now faces a critical decision: whether to move forward with these agreements or reassess them in light of the ongoing legal issues involving the Adani Group.
