The Chief Minister Revanth Reddy-led State government delegation is seeing some encouraging results at the World Economic Forum in Davos.
The Chief Minister Revanth Reddy-led State government delegation is seeing some encouraging results at the World Economic Forum in Davos.
Investment proposals worth thousands of crores are being signed at the prestigious event.
Among the proposals confirmed today are:
1. Aragen Life Sciences has announced plans for expansion with a new investment of Rs 2,000 crore, creating 1,500 new jobs.
The investment would help the firm further expand its existing facility in Mallapur. The expansion is targeted primarily towards drug discovery, development and manufacturing activities for the global life sciences industry.
The announcement was made after Chief Minister Revanth Reddy met with Manni Kantipudi, whole time Director and CEO, Aragen Life Sciences.
2. GODI India Private Limited announced the setting up of a 12.5 GWh cell manufacturing unit with an investment outlay of Rs 8,000 crore for a Lithium & Sodium Ion and related technologies R&D, and Giga scale cell manufacturing, facility in the State, over a period of five years.
A Memorandum of Understanding was signed between the State government and GODI India to this effect.
The project aims to have a 2.5 GWh cell assembly line in Phase 1, and expand to 10 GWh in the second phase, and has the potential to generate employment for 6,000 people in just Phase 1.
3. JSW Neo Energy, a subsidiary of JSW Energy, has announced the setting up of a pumped storage project 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 Telangana Pavilion in Davos today to this end.
Sajjan Jindal, Chairman, JSW Group, met with Revanth Reddy on the sidelines of the WEF and announced the plan.
The proposed pumped storage project will have energy generation capacity of 1,500 MW.
Headquartered in Mumbai, JSW Energy is an integrated power company that generates, transmits and trades in electricity from thermal, hydro and solar sources. As a leading private sector power company in India, it has an operational capacity of 4,559 MW, and is the country's largest Independent Hydro Power Producer (IPP).
4. Web Werks announced an investment of Rs 5,200 crore to establish data centres in the State.
The CM along with Industries Minister D Sridhar Babu, the CEO of Iron Mountain William Meaney and the CEO of Web Werks Nikhil Rathi exchanged an MOU for the investments to be made over the next few years.
Web Werks, a fully owned subsidiary of Iron Mountain, will invest Rs 1,200 crore in a 10 MW networking-heavy data centre in Hyderabad. This investment is already underway. Web Werks will also expand over the next few years by investing over Rs 4,000 crore in a greenfield Hyperscale Data Centre in the State.
In addition to the above, the Godrej group also promised to increase its footprint in the State