Hyderabad, Jan 21 (PTI) Sargad, a US-based operator-led industrial and investment platform, has signed an MoU with the Telangana government to invest Rs 1,000 crore over a three to five-year period.
The
company’s founder and chief executive officer, Srinivas Thota, met the state government delegation on the sidelines of the ongoing World Economic Forum (WEF) Annual Meeting here.
During the meeting, Sargad expressed interest in establishing an aviation maintenance, repair and overhaul (MRO) facility in Telangana, according to a state government release issued on Wednesday.
The company has experience across the aerospace, defence, automotive and advanced manufacturing sectors, with a focus on long-cycle, certification-driven and export-oriented industrial businesses.
Chief Minister A Revanth Reddy said Telangana is developing three distinct economic zones—CURE (Core Urban Region Economy) for the services sector with a net-zero focus, PURE (Peri-Urban Region Economy) for manufacturing, and RARE (Rural Agri Region Economy) for agriculture and the green economy.
He added that two airports—one each at Warangal and Adilabad—are being developed and invited the company to explore setting up an MRO facility at either location.
Meanwhile, NUkler Products, a joint venture promoted by Slovakia-based IQ Capital and India-based Green House Enviro, has submitted an expression of interest (EoI) to explore the development of a small modular reactor (SMR)-based clean energy project in Telangana.
The proposed project envisages an installed capacity of up to 300 MW with an estimated investment of around Rs 6,000 crore, an official release said.
The chief minister said Telangana is keen to encourage sustainable, clean and advanced energy infrastructure projects in the state. PTI SJR SSK SJR SSK ADB
