Telangana inks series of pacts at Davos summit
An MoU was signed between the state government and JSW Neo Energy during a meeting at the World Economic Forum
The Telangana government led by chief minister A Revanth Reddy on Wednesday signed a series of memoranda of understanding (MoUs) with several industrial groups for investing in various infrastructure projects in the state at the 54th World Economic Forum (WEF) summit being held in Davos, Switzerland.
Godi India Private Limited founder and chief executive officer Mahesh Godi, who held a meeting with the Telangana delegation led by Revanth Reddy, announced setting up of a 12.5 Gwh cell manufacturing with an investment outlay of ₹8,000 crore over a period of five years. An MoU was signed between the representatives of the company and the state government officials.
An official statement from the chief minister’s office said the proposed project has employment generation potential for 6,000 people in Phase-I. The project aims to establish a 2.5 Gwh cell assembly line in Phase-I, with planned expansion to 10 Gwh in the second phase.
After signing the MoU, Reddy said the Telangana government was working towards promoting the adoption of electric vehicles and establishing a comprehensive EV & ESS ecosystem in the state.
Similarly, JSW Neo Energy, a subsidiary of JSW Energy, also announced setting up of a Pumped Storage Project in Telangana, with an investment of ₹9,000 crore. The proposed Pumped Storage Project will have energy generation capacity of 1,500 MW.
An MoU was signed between the state government and JSW Neo Energy during a meeting at the World Economic Forum, after a meeting of JSW group chairman Sajjan Jindal with Revanth Reddy.
Earlier, the chief minister met Adani group chairman Gautam Adani at the Telangana pavilion in Davos. State information technology and communications and industries D Sridhar Babu and president of Adani group’s Aerospace and Defence wing Ashish Rajvanshin exchanged four MOUs with the state government for investments amounting to the tune of ₹12,400 crore.
The Adani group would set up two pumped energy storage projects of 1,350 MW capacity at a cost of ₹5,000 crore, AdaniConneX Data Centres at ₹5,000 crore at Chandanvelly with a total capacity of 100 MW, a cement grinding unit at an investment of ₹1400 crore and Adani Aerospace and Defence will invest ₹1,000 crore in Counter Drone Systems and Missile Development and Manufacturing Centres at the Adani Aerospace and Defence Park
Additionally, Adani Group has also agreed to support the skill development universities in Telangana.
Later, the chief minister and his delegation met with CEO of Iron Mountain William Meaney and CEO of Web Werks Nikhil Rathi. The meeting led to Web Werks announcing an investment of ₹5,200 crore to establish data centres in Telangana. Revanth Reddy also met Nadir Godrej, chairman and managing director of Godrej Industries Ltd, which evinced interest in making strategic investments in Telangana.
The official release said Godrej is already a key player in driving the oil palm mission of the state, wherein they are setting up one of India’s largest integrated oil palm processing complex with an investment of ₹270 crore in first phase in Khammam district.
The Godrej also agreed to establish a ₹1000-cr chemical plant in Telangana. Other key areas discussed included collaborative ventures in skill development, real estate development projects, and expanding the creamline dairy business, the official release added.
