Hyderabad: According to the state government, Swachh Bio, a company that produces lignocellulosic biofuels, will set up a 250 KLPD plant in Telangana for sustainable energy solutions. In the initial stage, the company revealed a capital investment exceeding Rs 1,000 crore, which will create job opportunities for 250 individuals at the facility, along with 250 people in supplementary and different positions, as stated in a press statement.
The announcement was made following a meeting between Swacch Bio Chairperson Praveen Paripati and Chief Minister A Revanth Reddy during the latter's current visit to the US. The new government, led by CM Revanth Reddy, impressed us greatly with their vision for the decentralised development of Telangana. "We are thrilled to collaborate with the state and be involved in its progress and evolution, which we believe will greatly benefit our growth in the future," Paripati said in the statement.
The government announced that Chief Minister Reddy and his team, along with Industries and IT Minister D Sridhar Babu, concluded a successful deal for capacity expansion with Arcesium, a top technology and service provider for asset managers. The government team had in-depth conversations with a high-ranking delegation led by Gaurav Suri, CEO, Arcesium, and senior team members, in the US. The conversations centered around the growth of Arcesium's office in Hyderabad, the company's initial international branch apart from its main base.
The Hyderabad center is vital for supporting Arcesium's worldwide operations, especially in data management and strategy initiatives. The company plans to employ 500 top-notch tech professionals in Hyderabad over the next two years as part of its growth strategy, according to the announcement. Reddy showed his approval for the expansion, emphasizing the state government's commitment to promoting IT sector growth. Trigyn Technologies is a worldwide provider of digital and intelligence solutions that includes a network of data, analytics, and AI startups.
Trigyn is set to open an AI innovation and delivery hub in Hyderabad, where it plans to recruit, educate and expand to reach a total workforce of more than 1,000 individuals within the following three years. According to a statement from the state government, the firm has approximately 100 employees in Hyderabad, which is part of its global workforce of more than 2,500 individuals, with 1,000 based in India, and earns over $160 million in total revenue.
During a working luncheon on Monday, Reddy captivated the top CEOs and business leaders at an official roundtable organized by the Consulate General of India, New York, highlighting the readiness of Telangana for business.
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