
HYDERABAD: Sun Petrochemicals, a leading energy company, is set to develop three pumped storage hydropower projects in Nagarkurnool, Mancherial and Mulugu districts with an estimated outlay of Rs 45,000 crore. These projects, with a combined capacity of 3,400 MW, will be complemented by downstream integrated solar power plants with a capacity of 5,440 MW.
The Memorandum of Understanding (MoU) for the projects was signed between senior officials of the Telangana government and Sun Petrochemicals on Thursday. The investment of Rs 45,500 crore is expected to create over 7,000 jobs during the construction phase, according to a release from the Chief Minister’s Office (CMO).
Welcoming the investment, Chief Minister A Revanth Reddy said, “Telangana has once again set new benchmarks. While we doubled the previous year’s achievements at Davos with Rs 40,000 crore in investments in 2024, this watershed agreement with Sun Petrochemicals further broadens the scope and investment base of Telangana. Our government prioritises all sectors, from services to manufacturing and from innovation-driven industries to conventional powerhouses. This project will not only create a large number of jobs for our youth but will also drive impactful transformation in Nagarkurnool, Mancherial and Mulugu.”
IT & Industries Minister D Sridhar Babu highlighted the diligent efforts behind the agreement, stating, “This success is the result of nearly a year of discussions and meetings among the CM, myself, state officials and Sun Petrochemicals’ leadership. It stands as one of the largest single investment milestones in Telangana since 2014.”
“Telangana is putting in top efforts to become India’s number one state in green energy,” the CMO said.
Dilip Shanghvi, managing director of Sun Pharmaceutical Industries and Sun Petrochemicals, said, “Under the guidance of Chief Minister A Revanth Reddy, Telangana has emerged as an irresistible investment destination over the past 12 months. This landmark agreement will have a transformative impact not only on the state but on the entire country, given the growing importance of green energy for our economy and society.”
TG, AP & Maha should grow together: Revanth
In his opening remarks, Revanth said, “I am happy to share the dais with Chandrababu Naidu and Fadnavis. Not only do we share a stage, but we also share borders and rivers. The Krishna and Godavari originate in Maharashtra, flow through Telangana and conclude their journey in AP. We must grow together.”
Reflecting on India’s progress in technology and economy, Revanth remarked, “Former PM Rajiv Gandhi introduced IT reforms in India, and later, PV Narasimha Rao liberalised the economy to help India compete globally. In the early 2000s, Naidu and YSR laid the foundation for Hyderabad and Cyberabad, creating infrastructure that has helped Telangana emerge as a hub for IT and pharma industries.”
He also emphasised Telangana’s role in achieving the PM’s dream of a $5 trillion economy. “I aim to contribute $1 trillion from Telangana,” he stated. When the moderator mentioned the potential of AP, Telangana and Maharashtra to collectively contribute $3 trillion, Naidu humorously remarked, “Unfortunately, they are very rich. I am very poor. Maharashtra has Mumbai and Telangana boasts of the highest per capita income in the country.”
TELANGANA MEANS BUSINESS: REVANTH
Hyderabad: Asserting that he aspires to compete with China, rather than other Indian cities such as Amaravati, Mumbai or New Delhi, Chief Minister A Revanth Reddy, said, “China plus one is my concept. China plus one is Telangana.” These remarks were made while he was addressing investors at the WEF annual meeting in Davos on Wednesday. Sharing the stage with his counterparts from Andhra Pradesh and Maharashtra, N Chandrababu Naidu and Devendra Fadnavis, respectively, Revanth extended an invitation to global investors. “Trust me and invest in Telangana. I am 55 years old and will be actively serving the state for the next 20-25 years. Telangana means business. So, invest in Telangana,” he urged