CM Revanth returns from Davos; signs 20 MoUs, secures Rs 1.79L Cr investment deals

Hyderabad: Telangana Chief Minister A Revanth Reddy returned to Hyderabad on Friday morning after wrapping up the 8-day tour of Singapore and Davos.

He received a rousing welcome from MPs, Ministers, and MLAs after landing at Rajiv Gandhi International Airport in Shamshabad here.

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 centers, followed by pumped storage facilities in the state.

50,000 jobs to be created

The investments are expected to create nearly 50,000 jobs. The biggest individual investments breakup broadly includes Amazon AWS - Rs 60,000 crore data center, Sun Petrochemicals - Rs 45,500 crore, Tillman Global Holdings - Rs 15,000 crore, Megha Engineering - Rs 15,000 crore, according to a press release from the Chief Minister's Office.

"The TelanganaRising delegation, led by the chief minister 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 and added that Software majors such as Infosys (17,000 jobs), HCL (5,000) and Wipro (5,000) unveiled their plans for expansions in Hyderabad.

Data Centres to be major focus

Data Centres were a major focus area that yielded very rich dividends for Telangana, with Amazon, Tillman, and CrtlS making announcements for new facilities and expansions. Solar Cells, rocket manufacturing, aircraft interior design,n, and UAV manufacturing were major cutting-edge area successes and forays, and investment by Jindal in the Defence sector was another big success, the officials 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, and 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," Revanth Reddy explained at several fora in WEF, Davos.

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

Addressing three illustrious events on Urban Mobility, Regenerative and Circular Spaces, and Nation Strategies, Revanth 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.

Revanth Reddy was accompanied by Industries and IT Minister D Sridhar Babu and senior bureaucrats during his visit to Singapore and Davos.