Hyderabad: In a landmark deal at the World Economic Forum (WEF) in Davos, the govt of Telangana on Wednesday secured one of its largest-ever investments—Rs 45,500 crore—from Sun Petrochemicals.
This big-ticket deal will not only revolutionise the state’s energy landscape but also drive sustainable growth, create thousands of jobs, and solidify Telangana’s position as a leader in India’s green energy transition, a govt source said.
The MoU with Sun Petrochemicals outlines the development of three state-of-the-art pumped storage hydro power projects across Nagarkurnool, Mancherial, and Mulugu districts, with a combined capacity of 3,400 MW. Complemented by integrated solar power plants totalling 5,440 MW, this bold initiative is set to transform the region’s energy infrastructure, govt sources said. Beyond its environmental benefits, the projects are poised to generate over 7,000 jobs during the construction phase, driving socio-economic growth in key areas of the state, the sources added.
Chief minister A Revanth Reddy hailed the investment as a significant step forward for Telangana. He highlighted that while the state made headlines last year with ₹40,000 crore in investments, this new partnership with Sun Petrochemicals marks another breakthrough, reinforcing Telangana’s commitment to both economic growth and sustainable development.
“This deal represents our vision of broadening Telangana’s investment base across sectors—from renewable energy to manufacturing—creating opportunities for the youth and catalysing transformative growth in districts like Nagarkurnool, Mancherial, and Mulugu,” said Revanth. “This will create a large number of jobs for our youth and lead to a highly impactful transformation of Nagarkurnool, Mancherial, and Mulugu,” he stressed.
Industries minister D Sridhar Babu emphasised that the agreement was the culmination of nearly a year of dedicated negotiations. “This historic deal is the result of extensive collaboration between our govt, Sun Petrochemicals, and key stakeholders. The chief minister’s leadership, along with strategic efforts from our team, played a pivotal role in securing one of the largest investment deals for Telangana since 2014,” said the minister. He further noted that the projects would significantly boost the state’s green energy capacity, aligning with Telangana’s goal of becoming a national leader in sustainable power generation.
Dilip Shanghvi, managing director of Sun Pharmaceutical Industries and Sun Petrochemicals, expressed his confidence in the state’s potential. “Under chief minister Revanth’s dynamic leadership, Telangana has become an attractive investment destination, particularly in the green energy sector. This landmark partnership will not only benefit the state but also have a profound impact on India’s economic and environmental future. We are excited about the growth prospects this project will bring,” he said.
Other major investment deals agreed at WEF, Davos, by the Revanth-led Telangana Rising team include an MoU with CtrlS Datacenters Limited to establish a cutting-edge AI datacenter cluster in Telangana. The proposed AI datacenter cluster will feature a capacity of 400 MW, involving an investment of Rs 10,000 crore. The project is set to generate 3,600 jobs (direct and indirect) and contribute significantly to the state’s economy through incremental tax revenues.
Another MoU was signed by JSW UAV Limited, a subsidiary of JSW Defence, to establish a state-of-the-art unmanned aerial systems manufacturing facility in the state. As part of this strategic initiative, JSW UAV, in collaboration with a leading US-based defence technology company, is set to invest approximately Rs 800 crore in the project, expected to generate over 200 high-value jobs.
Nicole Schwab, member of the executive committee, WEF, and Florian Vernaz, head, 1t.org, WEF, met Revanth and administered the ‘Davos Oath’ to participate in the ‘one trillion trees on planet earth’ campaign. Revanth, along with Sridhar Babu, took the oath and promised to be part of the movement to make the earth green and safe for future generations. The Telangana Rising delegation also explained to the WEF team efforts of tree plantation being undertaken in the state.
Box:
Hyderabad: Three chief ministers — AP’s Chandrababu Naidu, Maharashtra’s Devendra Fadnavis and Revanth Reddy — spoke at a round-table discussion at WEF, Davos, on various themes, India, developmental vision for states, welfare, economy, innovation, technology, AI, disruption, sustainability, jobs, and the way ahead.
This big-ticket deal will not only revolutionise the state’s energy landscape but also drive sustainable growth, create thousands of jobs, and solidify Telangana’s position as a leader in India’s green energy transition, a govt source said.
The MoU with Sun Petrochemicals outlines the development of three state-of-the-art pumped storage hydro power projects across Nagarkurnool, Mancherial, and Mulugu districts, with a combined capacity of 3,400 MW. Complemented by integrated solar power plants totalling 5,440 MW, this bold initiative is set to transform the region’s energy infrastructure, govt sources said. Beyond its environmental benefits, the projects are poised to generate over 7,000 jobs during the construction phase, driving socio-economic growth in key areas of the state, the sources added.
Chief minister A Revanth Reddy hailed the investment as a significant step forward for Telangana. He highlighted that while the state made headlines last year with ₹40,000 crore in investments, this new partnership with Sun Petrochemicals marks another breakthrough, reinforcing Telangana’s commitment to both economic growth and sustainable development.
“This deal represents our vision of broadening Telangana’s investment base across sectors—from renewable energy to manufacturing—creating opportunities for the youth and catalysing transformative growth in districts like Nagarkurnool, Mancherial, and Mulugu,” said Revanth. “This will create a large number of jobs for our youth and lead to a highly impactful transformation of Nagarkurnool, Mancherial, and Mulugu,” he stressed.
Industries minister D Sridhar Babu emphasised that the agreement was the culmination of nearly a year of dedicated negotiations. “This historic deal is the result of extensive collaboration between our govt, Sun Petrochemicals, and key stakeholders. The chief minister’s leadership, along with strategic efforts from our team, played a pivotal role in securing one of the largest investment deals for Telangana since 2014,” said the minister. He further noted that the projects would significantly boost the state’s green energy capacity, aligning with Telangana’s goal of becoming a national leader in sustainable power generation.
Dilip Shanghvi, managing director of Sun Pharmaceutical Industries and Sun Petrochemicals, expressed his confidence in the state’s potential. “Under chief minister Revanth’s dynamic leadership, Telangana has become an attractive investment destination, particularly in the green energy sector. This landmark partnership will not only benefit the state but also have a profound impact on India’s economic and environmental future. We are excited about the growth prospects this project will bring,” he said.
Other major investment deals agreed at WEF, Davos, by the Revanth-led Telangana Rising team include an MoU with CtrlS Datacenters Limited to establish a cutting-edge AI datacenter cluster in Telangana. The proposed AI datacenter cluster will feature a capacity of 400 MW, involving an investment of Rs 10,000 crore. The project is set to generate 3,600 jobs (direct and indirect) and contribute significantly to the state’s economy through incremental tax revenues.
Another MoU was signed by JSW UAV Limited, a subsidiary of JSW Defence, to establish a state-of-the-art unmanned aerial systems manufacturing facility in the state. As part of this strategic initiative, JSW UAV, in collaboration with a leading US-based defence technology company, is set to invest approximately Rs 800 crore in the project, expected to generate over 200 high-value jobs.
Nicole Schwab, member of the executive committee, WEF, and Florian Vernaz, head, 1t.org, WEF, met Revanth and administered the ‘Davos Oath’ to participate in the ‘one trillion trees on planet earth’ campaign. Revanth, along with Sridhar Babu, took the oath and promised to be part of the movement to make the earth green and safe for future generations. The Telangana Rising delegation also explained to the WEF team efforts of tree plantation being undertaken in the state.
Box:
Hyderabad: Three chief ministers — AP’s Chandrababu Naidu, Maharashtra’s Devendra Fadnavis and Revanth Reddy — spoke at a round-table discussion at WEF, Davos, on various themes, India, developmental vision for states, welfare, economy, innovation, technology, AI, disruption, sustainability, jobs, and the way ahead.
