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Sun Petrochemicals Inks MoU with Telangana Govt to Invest Rs 455bn

In one of the single-largest investment deals, Sun Petrochemicals, a leading energy company, has signed a Memorandum of Understanding (MoU) with the Telangana government to invest 5.2 billion (Rs 455 billion) in the state.

As per the MoU signed on the sidelines of World Economic Forum in Davos, the company will develop three pumped storage hydro power projects in the districts of Nagarkurnool, Mancherial, and Mulugu.

These projects will have a combined capacity of 3,400 MW and complemented by downstream integrated solar power plants with a capacity of 5,440 MW.

This ambitious venture is expected to create over 7,000 jobs during the construction phase, significantly contributing to the socio-economic development of the state, said an official statement here.

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