India News | JSW UAV Ltd Inks Pact with Telangana Govt to Set Up Rs 800 Cr Facility
Get latest articles and stories on India at LatestLY. The Telangana government on Wednesday said that it entered into a MoU with JSW UAV Limited, a subsidiary of JSW Defence, to establish a state-of-the-art Unmanned Aerial Systems manufacturing facility in the state.
Hyderabad, Jan 22 (PTI) The Telangana government on Wednesday said that it entered into a MoU with JSW UAV Limited, a subsidiary of JSW Defence, to establish a state-of-the-art Unmanned Aerial Systems manufacturing facility in the state.
According to an official release, as part of this strategic initiative, JSW UAV, in collaboration with a leading US-based defence technology company, is set to invest approximately Rs 800 crore in the project.
This landmark initiative is expected to generate over 200 high-value jobs, reinforcing Telangana's position as a hub for cutting-edge technology and defence innovation, it said.
Chief Minister A Revanth Reddy signed the MoU in Davos and welcoming the investment, said, "With clear vision and diligent efforts, we are establishing Telangana as a clear leader for investments in manufacturing across sectors, ranging from semiconductors, defence, private space to FMCG. My government's efforts to position Telangana as a preferred option for the world for its China Plus One strategy has started bearing results."
Telangana Industries Minister D Sridhar Babu said, "We are delighted with this agreement. It will clearly set a trend in the sector. We will strive hard to ensure our state becomes India‘s biggest manufacturing hub."
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)