After the formation of Telangana state, this time investments are going to come to the state in a way that has never happened before. According to the agreements signed at Davos, the government has officially announced that the state will receive investments of Rs 1,78,950 crore.
It is estimated that these investments are likely to provide employment opportunities to about 50,000 new people. At the World Economic Forum held in Davos, Chief Minister Revanth Reddy, Industries Minister Sridhar Babu and a team of officials participated and signed 10 key agreements.
The biggest investment in these agreements is Amazon Web Services. Amazon Web Services will expand its data centers in Hyderabad on a large scale with an investment plan of Rs 60,000 crore. Sun Petrochemicals Company has also come forward to set up huge pumped storage hydroelectricity and solar power projects in the state with an investment of Rs 45,500 crore.
The Hyderabad-based Megha Engineering Company has also said that it will set up a world-class wellness center along with the pumped storage project. This company has signed an agreement with a total investment proposal of Rs 15,000 crore.
Major IT companies HCL, Infosys, and Wipro will also expand their operations and create a total of 27,000 new job opportunities in Hyderabad. Jindal’s company will invest in the defense sector in the state. An agreement has been signed to this extent.
Along with these, many other companies have also signed MoUs with the Telangana government to invest in various sectors. It should be said that the Telangana government has used the advantage of the state as a venue for Davos. With this, many companies have come forward to invest in the state.
Minister Sridhar Babu expressed happiness that the consultations and discussions held by his government have been fruitful and that he is happy to have achieved such a huge investment agreement after the formation of the state. On the other hand, CM Revanth Reddy’s Davos visit concluded on Thursday and his team returned to Hyderabad on Friday.