NewzVille Desk
The Telangana State government has signed 35 Memoranda of Understanding (MoU) with investment commitments worth about 2.43 lakh crore rupees on the first day of the Telangana Rising Global Summit.
The state Government, in a release, announced that the day of the prestigious Telangana Rising Global Summit witnessed the signing of these MoUs in the presence of Chief Minister A. Revanth Reddy and Industries Minister D Sridhar Babu are related to various sectors, including deep tech, green energy and aerospace, among others.
The state authorities said an investment commitment of 75 thousand crore rupees was received in the deep tech and digital infrastructure sector with the Brookfield / Axis Ventures Pvt Ltd consortium. They also informed that this fund will be dedicated to the development of the Bharat Future City.
In the renewable energy sector, Vin Group formalised its 27 thousand crore rupees investment towards integrated projects, covering next-generation renewable energy generation, advanced EV infrastructure, and smart urban planning. SIDBI Startup Fund of Funds confirmed a thousand crore rupees injection of critical seed capital for local ventures.
In the Renewable Energy Transition and Power Security sector, nearly agreements worth about 40 thousand crore rupees were signed. The single largest energy deal came from Evren / Axis Energy with a commitment of 31 thousand 500 crore rupees.
Among others, investment proposals relating to solar power plants, vital pumped storage systems for grid stability, and advanced EV projects were received.
In the aerospace, defence, and logistics sector, agreements worth over 19 thousand crore rupees were signed. The electronics sector saw about seven thousand crore rupees in MoUs from various companies.
