Telangana Inks Rs 1.79 Lakh Cr MoUs at Davos: Data Centers, Jobs Boost

Hyderabad, Jan 23 (PTI) Chief Minister A Revanth Reddy-led "TelanganaRising" delegation signed as many as 20 MoUs for investments and expansions worth nearly Rs 1.79 lakh crore on the sidelines of the World Economic Forum summit at Davos, Switzerland, with the majority of them for setting up data centres, followed by pumped storage facilities in the state.

A press release from the Chief Minister's Office said the investments are expected to create nearly 50,000 jobs.

The biggest individual investments breakup broadly includes Amazon AWS - Rs 60,000 crore data centre, Sun Petrochemicals - Rs 45,500 crore, Tillman Global Holdings - Rs 15,000 crore, Megha Engineering - Rs 15,000 crore, among others, it said.

"The TelanganaRising delegation, led by CM Reddy concluded its highly successful Davos trip on Thursday with a total investment of Rs 1,78,950 crore (INR One Lakh Seventy Eight Thousand Nine Hundred Fifty crore), which will create 49,550 jobs," the release said.

Software majors such as Infosys (17,000 jobs), HCL (5,000) and Wipro (5,000) unveiled their plans for expansions in Hyderabad, it said.

Data Centres were a major focus area which yielded very rich dividends for Telangana, with Amazon, Tillman and CrtlS making announcements for new facilities and expansions.

Solar Cells, rocket manufacturing, aircraft interiors design and UAV manufacturing were major cutting-edge area successes and forays and investment by Jindal in the Defence sector was another big success, it further said.

"Building on core strengths of Hyderabad and Telangana in software and pharma, Telangana will now look to grow in a very big way in Data Centres, Green Energy, Food Processing, Electric Vehicles, Semiconductors, among others. The world, post Covid and its deep consequences on supply chains, urgently needs a supplementing alternative to China (China Plus One), a position Telangana would aggressively and proactively like to take," CM Reddy explained at several fora in WEF, Davos.

The vision of making Telangana a $1 trillion SDGP economy would involve aggressive clustering - core urban area inside ORR (Outer Ring Road at Hyderabad) for services, zone between ORR and the proposed Regional Ring Road as semi-urban zone for manufacturing, and outside the RRR as rural area for agri and food processing, he said.

Addressing three illustrious events on Urban Mobility, Regenerative and Circular Spaces, and Nation Strategies, CM Reddy said his key projects were about infrastructure, mobility, opportunities, and sustainability - Metro Rail expansion, Regional Ring Railway, Radial Roads, new airports, Musi river rejuvenation, Electric Vehicle promotions, Skills University, among others, the release added.

Reddy is expected to land here on Friday morning from Switzerland.