Telangana Government secures Rs. 15,000 crore investment deals at Davos
Hyderabad: Telangana has secured investment deals totaling approximately ₹15,000 crore at the World Economic Forum (WEF) in Davos. Under the leadership of Chief Minister A. Revanth Reddy, the state’s Telangana Rising team, signed three significant Memorandums of Understanding (MoUs) with Megha Engineering and Infrastructure Limited (MEIL), the Battery Energy Storage System Project (BESSP), and a luxury wellness resort project.
PV Krishna Reddy, Managing Director of MEIL, signed the MoUs at the Telangana Pavilion in the presence of Minister Duddilla Sridhar Babu.
1. Pumped Storage Project: MEIL has committed to investing ₹11,000 crore in a 2160 MW pumped storage hydroelectric project in the state. The project is expected to create 1,000 jobs during its construction phase, with an additional 250 jobs once operational. MEIL will also conduct a campus recruitment drive for staff. The initiative is part of Telangana’s Clean and Green Energy Policy 2025.
2. Battery Energy Storage System Project (BESSP): MEIL will invest ₹3,000 crore to set up a 100 MVH battery energy storage system at select locations across Telangana. The project is expected to create 1,000 direct jobs and 3,000 indirect jobs over two years. It will play a crucial role in fuel storage, grid stability, and peak load management.
3. Luxury Wellness Resort: MEIL has also committed ₹1,000 crore to develop a luxury wellness resort in Ananthagiri in partnership with a Hyderabad-based infrastructure company. The project will generate approximately 2,000 jobs during the construction phase.
In addition to these agreements, Skyroot Aerospace, a Hyderabad-based space technology company, signed an MoU with the Telangana government to establish a private rocket manufacturing, integration, and testing unit in the state. Skyroot will invest ₹500 crore in this facility, further strengthening Telangana’s position in the space sector.
Chief Minister Revanth Reddy expressed pride in Telangana-based companies’ achievements in technology and space, noting that these investments will contribute to the state’s growing role as a hub for innovation. Minister Duddilla Sridhar Babu emphasized the government’s strategic vision for the space sector and the development of Hyderabad as a center for private space activities.
Pawan Kumar Chandana, co-founder of Skyroot Aerospace, welcomed the partnership with the Telangana government, stating that the collaboration aligns with the state’s goals for technological advancement and innovation.
𝐓𝐞𝐥𝐚𝐧𝐠𝐚𝐧𝐚 𝐒𝐞𝐜𝐮𝐫𝐞𝐬 ₹𝟏𝟓,𝟎𝟎𝟎 𝐂𝐫 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐭 𝐃𝐚𝐯𝐨𝐬 𝐖𝐄𝐅
Under CM Revanth Reddy’s leadership, Telangana signed ₹15,000 Cr deals with MEIL at Davos WEF:
₹11,000 Cr for a 2160 MW pumped storage energy project.
₹3,000 Cr for a Battery… pic.twitter.com/wYaCg09dQN— Hyderabad Mail (@Hyderabad_Mail) January 22, 2025
