
HYDERABAD: In a major investment boost, the Telangana government has signed several MoUs with three Hyderabad-based companies Megha Engineering and Infrastructure Limited, CtrlS Datacentres and Skyroot Aerospace during the World Economic Forum in Davos.
As per the MoU, MEIL will set up a 2,160 MW pumped storage project in the state. The project represents a landmark initiative with a proposed investment of Rs 11,000 crore and is expected to create over 1,000 jobs in the construction phase, with an additional 250 jobs during the operations phase. The company will also initiate campus recruitment drives within Telangana to fulfil the project’s workforce requirements.
MEIL signed another MoU to establish a cutting-edge battery energy storage system project in the state. The company will develop a cumulative 1,000 MWh battery energy storage system across various strategic locations in the state. The project entails an investment of `3,000 crore and is poised to create over 1,000 direct jobs and an additional 3,000 indirect jobs within two years.
As per the third MoU signed by the government, MEIL will establish a world-class wellness resort at Ananthagiri. The deal will reflect the state’s commitment to promoting luxury tourism and regional economic growth, a release from the chief minister’s office (CMO) said. Under this partnership, MEIL will invest Rs 1,000 crore to develop the resort. The project is expected to generate over 2,000 jobs during construction and operation phases.
MEIL to conduct campus recruitment drives in state
The company will also conduct campus recruitment drives in Telangana to ensure local workforce participation.
Additionally, CtrlS Datacentres will invest Rs 10,000 crore in a data hub with 612 MW capacity while Skyroot will establish an integrated private rocket manufacturing, integration and testing facility with an investment of Rs 500 crore. The proposed project will be among the largest integrated private sector rocket manufacturing, integration and testing facilities.
Chief Minister A Revanth Reddy and IT and Industries Minister D Sridhar Babu oversaw the signing of MoUs at Davos.
Speaking about the partnership with Skyroot, the chief minister said: “I am delighted to see a Hyderabad-based company achieving great success. I welcome their decision to invest in Telangana. This agreement demonstrates how young minds of Telangana are working on every fascinating cutting-edge technology in the world.”
He stated that the partnership with Skyroot highlights Telangana’s strategic focus on space and aerospace sectors. We will soon make Hyderabad the focal point of private sector space work.”
Pawan Kumar Chandana, Skyroot Aerospace co-founder, said, “We are delighted to invest in Telangana under the leadership of Shri Revanth Reddy garu. After a long time, there is great energy and optimism about the state and its future. We want to be part of the TelanganaRising and HyderabadRising vision and mission.”
Commenting on CtrlS Datacentres plan to invest, Sridhar Babu, in a post on X, stated, “Data is the new oil, and Telangana is leading the way! At WEF 2025, I thanked and congratulated Mr. Sridhar Pinnapureddy, CEO of CtrlS Datacenters, for signing an MoU with the Telangana Government to invest Rs 10,000 crore in Hyderabad.”
The minister added that the facility will be Asia’s largest data hub with a 612 MW capacity, cementing Telangana’s leadership in digital infrastructure. “Together, we’re driving the future of tech and economic growth in Telangana!,” Sridhar Babu said.