Telangana government, MEIL sign MoU for three projects
Hyderabad: The state government on Tuesday signed memoranda of understanding (MoU) with Megha Engineering and Infrastructure Limited (MEIL) to establish three major projects, with a total investment of Rs.13,000 crore, during the World Economic Forum in Davos.
MEIL, the Hyderabad-based infrastructure company, will set up a 2,160 MW pumped storage project with a proposed investment of RS.11,000 crore. It expected to create over 1,000 jobs in the construction phase, with an additional 250 jobs during the operations phase.
In second project, the government and MEIL will establish a 1,000 MWh battery energy storage system across strategic locations. The project entails a Rs.3,000-crore investment and is poised to create over 1,000 direct jobs and an additional 3,000 indirect jobs within two years.
The system will play a pivotal role in strengthening Telangana’s renewable energy infrastructure by enabling efficient energy storage, grid stability, and peak load management.
The third project is a world-class wellness resort at Anantagiri in which Rs.1,000 crore. The project is expected to generate over 2,000 jobs during construction and operations phases. The company will also conduct campus recruitment drives for these three projects.
