Hyderabad: On Tuesday, UAE-based companies Shaiva Group and Taranis Capital decided to invest Rs 2,125 crore in Telangana. This move will significantly enhance the state’s investment scene.
IT and Industries Minister D Sridhar Babu announced that these firms signed agreements with five companies based in Telangana. This collaboration aims to create 5,020 new jobs in the region.
The focus of these companies is on biotech projects. They plan to work on reducing sugar in consumables, anti-diabetic innovations, and food management products.
Shaiva Group and Taranis Capital will allocate Rs 1,360 crore to Revelations Biotech, Rs 340 crore to Manakin Bio, Rs 80 crore to Svobodha Infinity Investment Advisors, Rs 90 crore to Exigent Drilling Technology Pvt Ltd, and Rs 55 crore to Yentra Tech Controls.
The minister later explained that these key investors from the UAE chose to support Telangana's growth and development journey.
In the next three years, the companies plan to invest an additional Rs 24,000 crore in vital areas like biotech, AI, data centers, defense, energy, fintech, and public infrastructure.
The minister thanked the investors for their confidence in Telangana and their alignment with the vision of ‘Rising Telangana’.
Emphasizing skill development, Sridhar Babu stated, “Our youth’s talent is our greatest asset. However, industry leaders often say graduates lack the skills needed for jobs.”
To address this, they have set up the ‘Young India Skills University’ to create a skilled workforce that meets international standards and industry demands.
Shaiva Group Chairman & CEO Amit Jagannath Varma, Taranis Capital CEO Nicholas S Bingham, Revelations Biotech MD Ravichandra Beeram, and others attended the event.
