The Telangana state government has signed an agreement with Hyderabad-based space technology company Skyroot Aerospace to set up an integrated private rocket manufacturing, integration and testing facility in the state.
Chief Minister Revanth Reddy and state IT and Industries Minister D. Sridhar oversaw the signing of the deal with Skyroute in Davos, where the World Economic Forum is being held.
In this new project, Skyroute will invest around Rs 500 crore and will be the largest integrated rocket manufacturing, integration and testing facility in the private sector.
“We are happy to see a Hyderabad-based company achieving great success and welcome the decision to invest in Telangana. This agreement shows how the youth of Telangana will be able to attract all the attractive It shows that we are working on cutting-edge technology,” Reddy said.
“Our partnership with Skyroute underscores Telangana’s strategic focus on space and aerospace. We will soon make Hyderabad a hub for private sector space exploration,” he said. added.
Pawan Kumar Chandana, co-founder of Skyroute, said, “We are delighted to invest in Telangana under the leadership of Revanth Reddy Garu. After a long time, there is great energy and optimism about the state and its future. We invite you to join us in the vision and mission of TelanganaRising and HyderabadRising.”