Hyderabad.21.01.2025: Skyroot Aerospace has announced a significant investment of ₹500 crore to establish a private rocket manufacturing, integration, and testing facility in Telangana. The Telangana government and Skyroot Aerospace signed a memorandum of understanding (MoU) during the World Economic Forum in Davos.
Chief Minister Revanth Reddy expressed pride in the Hyderabad-based company’s achievement in advanced technology. He congratulated the youth of Telangana for their talent and for contributing to the state’s growth. The Chief Minister stated that this partnership demonstrates the government’s strategic vision for the space sector and aims to make Hyderabad a hub for private space activities.
Skyroot Aerospace co-founder Pawan Chandana shared his enthusiasm for the investment and pledged to support the goals of “Telangana Rising” and “Hyderabad Rising” under Revanth Reddy’s leadership.
In addition, Minister D. Sridhar Babu held discussions with the MTC Group about expanding their operations in Telangana. The MTC Group, with 25% equity held by Mitsui Japan, is exploring land for new investments.
Sridhar Babu also met Khalid Mohammed Al-Salem, president of the Royal Commission for Jubail and Yanbu, Saudi Arabia. They discussed potential collaborations and investment opportunities aligned with sustainability and long-term impacts.
This investment marks a significant step for Telangana in becoming a leader in the private space sector.
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