Telangana CM Partners with World Bank for State Development

Hyderabad, Aug 7 (PTI) Telangana Chief Minister A Revanth Reddy met World Bank President Ajay Banga in the US and held discussions, where the latter would partner with the state on several fronts and projects "to make a positive, ambitious and impactful outcome on the lives of over four crore people."

The potential areas for partnership being outlined through explorations and deliberations would include initiatives on skills development, urban rejuvenation and reimagination, Net Zero developments, citizens' healthcare, diagnostics and electronic records, among others, an official release said on Wednesday.

CM Reddy is presently touring the US to attract investments.

In the over an hour-long meeting, between the World Bank head and the Chief Minister and his team, it was decided to set up cross-functional team to conceptualise viable projects in each of the areas in an accelerated mode, it said.

The World Bank backing would give a fillip to several of the key visions of CM Reddy, including the Musi River rejuvenation project, Skill University, Future City near Hyderabad and Citizen Healthcare, it said.

Meanwhile, the Telangana government has signed a Memorandum of Understanding (MoU) with Corning Incorporated, a global leader in materials science, to collaborate on skilling and innovation initiatives.

The pact is aimed at advancing technological innovation in key industries and helping workforce in the state.

The MoU came following a meeting between the Corning leadership team led by Ronald Verkleeren, Senior Vice President, Emerging Innovations Group, and the state official team led by CM Reddy and Minister for Industries D Sridhar Babu, an official release said.

As part of the agreement, Corning and Telangana would collaborate on designing and implementing programmes focused on skilling local workforce in advanced manufacturing and chemical engineering technologies.

These initiatives aim to ensure that Telangana's talent pool remains competitive on a global scale, aligning with state's vision of becoming a hub for cutting-edge research and development in pharmaceutical and chemical sectors, it said.

Meanwhile, Vivint Pharma, an injectables pharmaceutical company, announced its plan to establish a state-of-the-art injectables manufacturing facility in Genome Valley, Hyderabad.

The company would be investing Rs 400 crore in the new facility with a potential to employ 1,000 people, further solidifying Telangana's position as a global hub for life sciences, the government said.