Sun Petrochemicals signs Rs 45,500 crore investment MoU with T’gana

Telangana government has entered into an MoU with Sun Petrochemicals to develop three pumped storage hydropower projects in the districts of Nagarkurnool, Mancherial and Mulugu. These projects will have a combined capacity of 3,400 MW and will be complemented by downstream integrated solar power plants with a capacity of 5,440 MW. The MoU was signed at the World Economic Forum in Davos. An official release stated that these projects will be established with an estimated investment of 45,500 crore rupees and are expected to create over 7,000 jobs during the construction phase.

Further, JSW UAV Limited, a subsidiary of JSW Defence, also signed another MoU with the State government to establish an unmanned aerial systems manufacturing facility in Telangana. JSW UAV, in collaboration with a US-based defence technology company, is set to invest around 800 crore rupees in the project. The investment is likely to generate over 200 high-value jobs.