Tata Technologies to invest $1.8 bln in Telangana
Upstox
2 min read • Updated: January 18, 2024, 7:24 PM
Summary
The investment from the unit of Tata Motors is the second commitment to the Telangana government in two days after the Adani Group announced a $1.49 billion investment on Wednesday
BENGALURU, Jan 18 (Reuters) - Tata Technologies will invest 150 billion rupees ($1.80 billion) in the Indian state of Telangana to set up government-affiliated skilling centres, the state government said on Thursday.
The investment from the unit of Tata Motors is the second commitment to the Telangana government in two days after the Adani Group announced a $1.49 billion investment on Wednesday.
Indian states have received a slew of pledges for investment from companies including Maruti Suzuki in the past week at business events such as the Vibrant Gujarat Global Summit and the World Economic Forum.
Tata Technologies, which provides engineering services to auto, aero and heavy machinery makers, will set up skilling centres in 50 government-run industry training organisations.
The salt-to-aviation conglomerate also is close to announcing plans to build a semiconductor fabrication plant in Indian Prime Minister Narendra Modi's home state of Gujarat, Tata Sons' chairman said last week.
The latest investment is part of a larger commitment from Tata Group companies, such as Tata Consultancy Services and Tata Advanced Systems, to expand in the state.
"Tata Group is expanding its Air India fleet and has plans to increase both domestic and international connections from Hyderabad," the state government said in a statement.
It did not provide details on the other Tata investments.