
Telangana Government entered MoU with Sun Petrochemicals
Hyderabad: The Telangana Government entered an MoU with Sun Petrochemicals, a leading energy company to invest Rs 45,500 crore in the State.
The delegation led by Telangana CM Revanth Reddy team signed an MoU in the Davos at World Economic Forum on Wednesday with Sun Petrochemicals to develop three pumped storage hydro power projects in the districts of Nagarkurnool, Mancherial, and Mulugu.
These projects will have a combined capacity of 3,400 MW and complemented by downstream integrated solar power plants with a capacity of 5,440 MW. This ambitious venture is expected to create over 7,000 jobs during the construction phase, significantly contributing to the socio-economic development of the State, said an official statement.
The MoU was signed between senior officials of the Government of Telangana and Sun Petrochemicals, marking a major milestone in Telangana’s drive toward sustainable energy development.
Telangana is putting top efforts to become India’s number one state in green energy. The collaboration aims to harness renewable energy resources efficiently, addressing energy demands while supporting the State’s green energy transition.
Broad basing the investment base and scope of Telangana, our government has been giving equal importance to all sectors, from services to manufacturing, from innovation-based to convention-powerhouses. This will create a large number of jobs for my youth and create a highly impactful transformation around Nagarkurnool, Mancherial, and Mulugu, said CM Revanth Reddy.
Chief Minister and I had several rounds of discussions, along with our officials and top leadership of Sun Petrochemicals to bring to Telangana one of the single largest investment successes since 2014, said Sridhar Babu.