In a significant push for its infrastructure and economic development, Telangana signed three Memoranda of Understanding (MoUs) with Megha Engineering and Infrastructures Limited (MEIL) at the World Economic Forum in Davos on Tuesday (January 21, 2025) in the presence of Chief Minister A. Revanth Reddy who is leading the ‘TelanganaRising’ delegation.
As part of these agreements, MEIL will invest ₹ 11,000 crores to establish a 2160 modern pumped storage project, creating over 1,000 jobs during construction and 250 during operations.
A Battery Energy Storage System (BESS) project with an investment of ₹ 3,000 crores will also be set up with 1,000 MWh BESS across Telangana, generating over 1,000 direct and 3,000 indirect jobs. A luxury wellness resort estimated to cost ₹ 1,000 crores will also be established at Ananthagiri near Hyderabad, creating over 2,000 jobs during construction and operations.
Published – January 22, 2025 09:25 am IST
