National Telangana

Telangana seals investment worth Rs 36500 crore at WEF Davos

The Telangana government has sealed MoUs worth over Rs 36,500 crore at the World Economic Forum being held at Davos Corporate biggies such as Adani Group and JSW are among the investors that signed MoUs with the state government in the presence of Chief Minister Revanth Reddy who is currently camping in Davos along with Industries Minister D Sridhar Babu and some senior officials.

According to a press release issued by the Congress government, Adani Group has announced investments worth Rs 12,400 crore for setting up Pumped Storage Projects, Data Centers, Counter Drone Systems and Missile Development and Manufacturing Centres at the Adani Aerospace and Defence Park here, apart from a Cement Grinding unit in the state.

Besides, Adani Group has also agreed to support the chief minister’s goal of creating skilling universities in Telangana, the press release said.

Revanth Reddy met with the Chairman of Adani Group, Gautam Adani, at Davos.

JSW Neo Energy, a subsidiary of JSW Energy, has announced that it would set up a Pumped Storage Project in Telangana, with an investment of Rs 9,000 crore.

A Memorandum of Understanding (MoU) was signed between the state government and JSW Neo Energy at a meeting at the World Economic Forum.

JSW Group Chairman Sajjan Jindal met with Revanth Reddy on the sidelines of WEF and announced the plan for setting up the project, another release said.

A MoU was signed between the state government and GODI India, a Hyderabad-based lithium-ion cell manufacturer, at the WEF under which the company will be setting up a 12.5 GWh cell manufacturing unit and conducting research and development of related technologies with an investment outlay of Rs 8,000 crore in Telangana, over a period of five years, according to another press release.

Similarly Web Werks, a leading IT infrastructure provider, announced Rs 5,200 crore to establish data centres in Telangana while Aragen Life Sciences, which is in the manufacturing and R&D space in the life sciences sector, announced plans to invest Rs 2,000 crore on its existing plant here for expansion, which will create 1,500 new jobs.

Revanth Reddy had a crucial meeting with Nadir Godrej, Chairman and Managing Director of Godrej Industries Ltd. The meeting underscored Godrej’s growing interest in Telangana and the potential for substantial investments in various sectors within the state, a separate release said.

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