Telangana Attracts Huge Investments on the First Day of World Economic Forum

  • May 24, 2022 4:14 pm

 

On the first day of the World Economic Forum in Davos, IT and Industries Minister KTR held a series of meetings with various industry leaders at the Telangana pavilion.

Many companies have come forward to invest in Telangana after their meetings with the IT & Industries Minister KTR, who is leading the Telangana Delegation to WEF- 2022.

Lulu Group to invest Rs 500 crore in Telangana:

The Lulu Group has come forward to invest Rs 500 crore in Telangana. The investment was announced during a meeting between Minister KTR and the company head Yusuf Ali in Davos. Lulu Group will start their operations in the food processing sector in Telangana with a huge investment of Rs. 500 Crore.

On behalf of the Telangana government, Minister KTR handed over the necessary permission documents to Yusuf Ali for the food processing unit to be set up by the company. Mr. Yusuf Ali said that besides this investment, they also have plans of setting up another unit in the food processing sector and an official announcement will be made soon in this regard. He said they will be laying the foundation stone for their food processing units soon. The company’s unit would export food processing products from Telangana to foreign countries like Europe.

Yusuf Ali also said that the Lulu group would invest more in the construction of large-scale commercial complexes in the state of Telangana. “We have already selected several areas in Hyderabad city in this regard and are in talks with the respective property owners. Our aim is to build an excellent shopping mall of international standards in Hyderabad city,” he added.

Minister KTR expressed happiness over Lulu Group’s decision to invest in Hyderabad, one of the fastest growing cities in the country. Minister KTR said that the Telangana government was working towards establishing demand for agricultural products and agricultural allied products through food processing units. Lulu Group’s setting up an international level food processing unit will help this cause, he added. The Minister thanked the Lulu Group for investing Rs 500 crore in Telangana.

Swiss Re to set up their office in Hyderabad

Minister KTR welcomed Swiss Re, the world’s largest insurance company to Telangana. The firm will be setting up their office in Hyderabad this August. Swiss Re is a 160 year old insurance organization, headquartered in Zurich, Switzerland and operates in 80 locations globally. Swiss Re’s Hyderabad center will start with an initial headcount of 250 and will be focusing on data & digital capabilities, product modeling, and risk management

Ms. Veronica Scotti, Group Managing Director & Ivo Menzinger, MD Public Sector Solutions, Swiss Re Met Minister KTR and Telangana delegation at the Telangana pavilion in Davos today.ulu Group to invest Rs 500 crore in Telangana:

The Lulu Group has come forward to invest Rs 500 crore in Telangana. The investment was announced during a meeting between Minister KTR and the company head Yusuf Ali in Davos. Lulu Group will start their operations in the food processing sector in Telangana with a huge investment of Rs. 500 Crore.

On behalf of the Telangana government, Minister KTR handed over the necessary permission documents to Yusuf Ali for the food processing unit to be set up by the company. Mr. Yusuf Ali said that besides this investment, they also have plans of setting up another unit in the food processing sector and an official announcement will be made soon in this regard. He said they will be laying the foundation stone for their food processing units soon. The company’s unit would export food processing products from Telangana to foreign countries like Europe.

Yusuf Ali also said that the Lulu group would invest more in the construction of large-scale commercial complexes in the state of Telangana. “We have already selected several areas in Hyderabad city in this regard and are in talks with the respective property owners. Our aim is to build an excellent shopping mall of international standards in Hyderabad city,” he added.

Minister KTR expressed happiness over Lulu Group’s decision to invest in Hyderabad, one of the fastest growing cities in the country. Minister KTR said that the Telangana government was working towards establishing demand for agricultural products and agricultural allied products through food processing units. Lulu Group’s setting up an international level food processing unit will help this cause, he added. The Minister thanked the Lulu Group for investing Rs 500 crore in Telangana.

Swiss Re to set up their office in Hyderabad

Minister KTR welcomed Swiss Re, the world’s largest insurance company to Telangana. The firm will be setting up their office in Hyderabad this August. Swiss Re is a 160 year old insurance organization, headquartered in Zurich, Switzerland and operates in 80 locations globally. Swiss Re’s Hyderabad center will start with an initial headcount of 250 and will be focusing on data & digital capabilities, product modeling, and risk management

Ms. Veronica Scotti, Group Managing Director & Ivo Menzinger, MD Public Sector Solutions, Swiss Re Met Minister KTR and Telangana delegation at the Telangana pavilion in Davos today.

 

 

Spanish Multinational Chemo to invest about Rs. 100 Cr in their Hyderabad site expansion over next two years.

Spain headquartered Chemo Pharma has announced an investment over Rs. 100 crores in the creation of the second line in their production area in Hyderabad for the production of pharmaceutical finished dosage forms. In 2021, the company established additional QC and Stability Labs in their facility in Hyderabad and now is gearing towards commencing commercial operations utilizing upcoming line two in production. The company is also planning to initiate a new Active Pharmaceutical Ingredient and R&D Centre in Hyderabad along with continuing new product development activities in solids and injectables in Genome Valley, Hyderabad.
The announcement was made after Minister Mr. KT Rama Rao’s meeting with the leadership of Chemo Group- Dr. Jean Daniel Bonny, R&D Director – Pharmaceuticals Generics Business at World Economic Forum, Davos. Mr. Jayesh Ranjan IAS, Principal Secretary, Industries and Commerce Dept. and Mr. Shakthi M Nagappan, Director Lifesciences, Government of Telangana were also present during the meeting.
Chemo India Formulation started its operations in Genome Valley, Hyderabad in 2018 with the Research, development and manufacturing of pharmaceutical finished dosage forms with specialization in oral dosage formulations. Since then, the company has witnessed tremendous growth and invested around 170 crores till now along with employment creation of around 270 people.
Dr. Jean briefed the minister that Chemo India Formulation has been making significant contributions to global operations. The company has taken up around 25 new development projects in solids and 12 new development projects in injectables. Some of the products are getting approvals in the EU region and the entity in Spain is now working towards commercializing some of these products. Global stability programme has also been initiated in Chemo India and installed capacity is 800 samples per month. Going forward, Chemo India Formulation will work toward strengthening the global stability program and continue to add value to global operations.
Chemo is part of the Spanish multinational Insud Pharma, which has been operating for over 40 years and has a team of 7,000 professionals worldwide. Chemo is a sector leader in the research, development and manufacturing of a broad variety of APIs and a full range of Finished Dosage Forms for both human and veterinary. Globally, Chemo has around 10 manufacturing plants, more than 1100 clients, 10 R&D centers, more than 100 APIs and finished dosage forms.
Minister Mr. K.T Rama Rao said that “I am delighted that Chemo, a leading pharmaceutical company, is continuing to grow from Hyderabad. This is indeed a testament to the life sciences ecosystem in the city and Genome Valley”.

 


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