Telangana Chief Minister A. Revanth Reddy, AP Chief Minister N. Chandrababu Naidu and Maharashtra Chief Minister Devendra Fadnavis attended the World Economic Conference in Davos, Switzerland on Wednesday.
The third day of the World Economic Forum was a windfall for Telangana as the government signed MoUs worth hundreds of billions of yen. Highlighting among these was a Rs 45,500-crore investment by energy giant Sun Petrochemicals, which would develop three pumped hydropower projects. Nagarkurnool district, Mancherial district and Mulgu district.
Another major MoU was with JSW UAV Limited, a subsidiary of JSW Defense, to set up a state-of-the-art unmanned aircraft systems manufacturing facility in the state with an investment of around ₹80 billion.
Earlier in the day, the Government of Telangana signed a Memorandum of Understanding with HCLTech, one of the world’s leading technology companies. The company plans to expand its delivery base. In yet another development, three MoUs were signed with Mega Engineering and Infrastructures Limited (MEIL) to invest ₹15,000 crore in three different projects. An investment of Rs 10,000 crore from CtrlS Datacenters Limited will establish a state-of-the-art AI data center cluster.
The Sun Petrochemicals project has a total capacity of 3,400 MW, complemented by an integrated solar power plant with a downstream capacity of 5,440 MW. With an estimated investment of Rs 45,500 crore, this ambitious project is expected to create over 7,000 jobs during the construction phase.
Chief Minister A. Revanth Reddy said that while Telangana had secured an investment of Rs 40,000 crore in Davos last year, doubling the benchmark of the last 10 years, the Telangana Rising delegation had secured a deal with Sun Petrochemicals. He said that they had reached an excellent agreement in this transaction and welcomed the huge investment.
“This will create a lot of jobs for my youth and bring very impactful changes around Nagarkurnool, Mancherial and Mulgu,” Revanth Reddy said, adding that Telangana will become India’s greenest state. It should be the number one state in energy, he added.
Industry Minister D. Sridhar Babu welcomed several agreements that attracted huge investments and said that this was the result of nearly a year of intense efforts, including several rounds of discussions and many meetings. With a 3,20,000 sq ft facility located in Hi-Tech City, HCLTech houses 5,000 IT employees and is Gold certified by the Green Building Council of India, demonstrating HCLTech’s commitment to sustainable business practices. is emphasized.
Dilip Shanghvi, Managing Director of Sun Pharmaceutical Industries and MD of Sun Petrochemicals, said that under the leadership of Revanth Reddy, Telangana has become an attractive investment destination in the last 12 months. He said that it is becoming.
issued – January 22, 2025 10:04 PM IST
