Sun Petrochemicals has signed a MoU with the Telangana government for setting up large-scale pumped storage hydro power projects in the state with an investment of Rs 45,000 crore.
The projects, "one of the single-largest investment deals ever", will come up in Nagarkurnool, Mancherial, and Mulugu districts of Telangana and are expected to create 7,000 jobs over a period, a release from the state government said.
"These projects will have a combined capacity of 3,400 MW and will be complemented by downstream integrated solar power plants with a capacity of 5,440 MW. With an estimated investment of Rs 45,500 crore, 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," it said.
The pact was signed on the sidelines of the World Economic Forum being held in Davos.
"Broadbasing the investment base and scope of Telangana, our government has been giving equal importance to all