Telangana Seals Rs 15000 Crore Deals to Boost Sustainable Growth with MEIL

Telangana government has inked three major MoUs with Megha Engineering and Infrastructures Limited valued at Rs 15000 crore. These agreements, announced at the World Economic Forum, aim to bolster investments and job creation in renewable energy and tourism, highlighting the state's focus on sustainable development and economic progress.

The Government of Telangana has entered into significant agreements with Megha Engineering and Infrastructures Limited (MEIL), securing investments worth Rs 15000 crore to enhance growth in renewable energy and wellness tourism sectors. This was formalized during the World Economic Forum in Davos on Tuesday.

These agreements underscore the state's commitment to sustainable development. One key agreement involves establishing a 2160 MW Pumped Storage Project, with MEIL injecting Rs 11,000 crore into this initiative. This project promises to bolster the state's renewable energy capacity while creating over 1,000 jobs during its construction phase and an additional 250 during operations.

Further, Telangana's alliance with MEIL will see the development of a 1,000 MWh Battery Energy Storage System at strategic locations, backed by an investment of Rs 3,000 crore. This venture is set to generate over 1,000 direct jobs alongside 3,000 indirect roles, underscoring the state's aim to strengthen its energy infrastructure.

Additionally, a Rs 1,000 crore luxury wellness resort is planned for Ananthagiri, aimed at boosting tourism and job opportunities, with over 2,000 positions expected to be created. These initiatives highlight Telangana's proactive approach in achieving economic progress and sustainability in collaboration with MEIL.

(With inputs from agencies.)