Industrial Conglomerate Rashmi Group signs MoU with Telangana for Rs.12,500 Crore investment
Chief Minister A. Revanth Reddy congratulated Minister D. Sridhar Babu for securing the investment, which will support the State in its aggressive growth trajectory in the years to come
By : DC Correspondent
Update: 2026-01-21 12:04 GMT
Davos: Chief Minister A. Revanth Reddy-led 'Telangana Rising' delegation entered into a Memorandum of Understanding (MoU) with Rashmi Group, a large Indian industrial conglomerate. The company, renowned globally for its ductile iron (DI) pipes used in water and sanitation projects, came forward to set up a steel production unit in Telangana with an investment of Rs 12,500 crore, with a potential to create 12,000 direct and indirect jobs.
Rashmi Group Promoter Sajjan Kumar Patwari and Director Sanjib Kumar Patwari met the 'Telangana Rising' delegation at WEF 2026, and expressed readiness to setup steel plant in the state. Established in 1966, the company exports products to over 40 countries across Asia, Europe, the Middle East, Africa, North and South America.
Chief Minister A. Revanth Reddy congratulated Minister D. Sridhar Babu for securing the investment, which will support the state in its aggressive growth trajectory in the years to come. The Minister explained that Telangana's commitment to driving economic development is evident in its diverse industrial landscape, with a special focus on manufacturing.
Stating that Telangana has transformed into an industrial powerhouse with progressive polices, the Minister promised all possible support needed to establish the unit in the state, including coal supply linkages. Sanjib Kumar said that the steel plant would involve labour-intensive manufacturing and has potential to provide employment in large scale.
The delegation also exchanged views on potential partnerships, especially in areas like green manufacturing and circular economy. The company expressed interest in collaborating with the Telangana government on energy-efficient steelmaking, waste heat recovery, and slag utilization -- aligned with the state’s sustainability goals.