Swacch Bio to invest over Rs 1,000 Cr in Telangana to establish 2G bioethanol plant
The announcement came after Praveen Paripati, Chairperson, Swacch Bio, met with Chief Minister A Revanth Reddy during the latter's ongoing US visit.
Swachh Bio, a lignocellulosic biofuels manufacturing company focused on providing energy solutions for a sustainable future, will soon establish a 250 KLPD second-generation, cellulosic biofuels plant in Telangana, the state government said on Tuesday.
The firm announced a capital investment of over Rs 1,000 crore, in the first phase, which will provide employment for 250 people at the plant, and 250 people in additional support and other roles, it said in a release.
The announcement came after Praveen Paripati, Chairperson, Swacch Bio, met with Chief Minister A Revanth Reddy during the latter's ongoing US visit.
"We were highly impressed with the vision of decentralised development of Telangana by the new government, led by CM Revanth Reddy. We are excited to be partnering with the state and being part of its development and transformation journey, as much as we are sure, it will help us grow tremendously in coming years," the release quoted Paripati as saying.
Chief Minister Reddy and his team, including Industries and IT Minister D Sridhar Babu, also closed on a successful capacity expansion agreement with Arcesium, a leading provider of technology and service solutions for asset managers, the government said.
The government team had detailed discussions with a high-level delegation led by Gaurav Suri, CEO, Arcesium, and senior team members, in the United States.
The discussions focused on the expansion of Arcesium’s Hyderabad office, which was the company’s first overseas location outside its headquarters.
The Hyderabad centre plays a crucial role in supporting Arcesium’s global operations, particularly in areas of data management and data strategy initiatives.
As part of its expansions, the company will hire 500 high-end tech talent in Hyderabad in the next two years, the release said.
Reddy expressed his support for the expansion, highlighting the state government’s focus on fostering growth in the IT sector.
After a meeting with the Telangana delegation led by the chief minister, Trigyn Technologies announced opening an artificial intelligence (AI) innovation delivery centre in Hyderabad.
Trigyn Technologies is a global digital and intelligence solutions provider with an ecosystem of data, analytics and AI startups.
Trigyn will establish an AI innovation and delivery centre in Hyderabad, which will hire, train and grow to a total capacity of over 1,000 people in the next three years.
The company, with a total revenue of over $160 million, has around 100 people in Hyderabad. Of its global force of over 2,500 people, 1,000 are in India, a state government release said.
Meanwhile, Reddy "enthralled' the top CEOs and business honchos at an official roundtable hosted by the Consulate General of India, New York, over a working luncheon late Monday, emphasising on the "business-readiness" of Telangana.
Edited by Swetha Kannan
