Two UAE-based firms to invest Rs 2,125 crore in Telangana
Appreciating the investment, Sridhar Babu said: 'We welcome Shaiva Group and Taranis Capital, two UAE-based investors who have chosen to become partners in Telangana's development. This collaboration is expected to create jobs for 5,020 people in the state.'
He said the development reflected the government's efforts under Chief Minister A Revanth Reddy to attract investment and generate employment opportunities for the state's youth. The minister pointed out that the Congress regime had filled over 60,000 posts in the government sector and attracted investment worth over Rs 3 lakh crore in the last 18 months, which, he said, led to the creation of more than one lakh private sector jobs.
Sridhar Babu added that the two UAE firms had expressed interest in investing an additional Rs 24,000 crore over the next three years in areas such as biotechnology, artificial intelligence, data centres, defence, energy, fintech and public infrastructure. In biotechnology, the focus would be on reducing sugar in consumables, anti-diabetic innovations, food management products and large-scale projects like 'Fourth City' and 'AI City'.
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