Skyroot Aerospace to Set Up Private Rocket Manufacturing Facility in Telangana
Skyroot Aerospace, a Hyderabad-based space technology firm, has announced plans to establish an integrated private rocket manufacturing, integration, and testing facility in Telangana. The company signed a Memorandum of Understanding (MoU) with the Telangana government on Tuesday, marking a significant milestone during the World Economic Forum summit in Davos.
The MoU was signed in the presence of Telangana Chief Minister A. Revanth Reddy and IT & Industries Minister D. Sridhar Babu. The new facility, with an investment of approximately Rs 500 crore, will be one of the largest integrated private-sector rocket manufacturing and testing facilities in the country.
Expressing his excitement, Chief Minister Revanth Reddy stated, “I am delighted to see a Hyderabad-based company achieving great success. I welcome their decision to invest in Telangana. This agreement highlights how the young minds of Telangana are working on cutting-edge technologies that are making an impact globally.”
The Chief Minister emphasized that the partnership with Skyroot Aerospace aligns with Telangana’s strategic focus on the space and aerospace sectors, with plans to make Hyderabad a key hub for private sector space endeavors. “We will soon make Hyderabad the focal point of private sector space work,” he added.
Pawan Kumar Chandana, co-founder of Skyroot Aerospace, expressed his enthusiasm about the collaboration, stating, “After a long time, there is great energy and optimism about the state and its future. We want to be part of the TelanganaRising and HyderabadRising vision and mission.”
In addition to the Skyroot Aerospace deal, Minister D. Sridhar Babu engaged in discussions with the MTC Group, a major player in the Hub-and-Spoke model, to explore investment opportunities in Telangana. The Mitsui Group Japan, which holds a 25% stake in the MTC Group, will be involved in these plans. Minister Sridhar Babu also met with Khalid Mohammed Al-Salem, the Federal Minister and President of the Royal Commission for Jubail and Yanbu, Saudi Arabia, to explore potential investments that align with the values of sustainability and long-term impact.
Furthermore, Su Le, Chief Growth Officer of SambaNova, met with Sridhar Babu and Telangana officials to discuss potential investments in the semiconductor industry. SambaNova, headquartered in Palo Alto, California, is renowned for its AI platform that supports deep learning and AI innovation.
The developments underline the growing global interest in Telangana as a hub for cutting-edge technologies and investments. The state’s proactive engagement with international players signals a promising future for its economy and technological landscape.
