Skyroot Aerospace To Invest Rs 500 Cr In TG

Hyderabad: Telangana Chief Minister A Revanth Reddy and IT & Industries Minister D Sridhar Babu oversaw the signing of a Memorandum of Understanding (MoU) with Skyroot Aerospace, a Hyderabad-based company in space technology sector, at World Economic Forum (WEF) in Davos

Under the MoU, the firm would establish an integrated private rocket manufacturing, integration and testing facility in Telangana. ‘The new project will see Skyroot making an investment of around Rs 500 crore

“I am delighted to see a Hyderabad-based company achieving great success. I welcome their decision to invest in Telangana. This agreement demonstrates how young minds of Telangana are working on every fascinating cutting-edge technology in the world,” said Revanth Reddy. The partnership with Skyroot highlights Telangana’s strategic focus on Space and Aerospace sectors. We will soon make Hyderabad the focal point of private sector space work, he added.

Pawan Kumar Chandana, co-founder, said, “We are delighted to be investing in Telangana under the leadership of Revanth Reddy. After a long time, there is great energy and optimism about the State and its future”.