TS attracts PepsiCo, Allox, Apollo Tyres investments in Davos WEF meet
Hyderabad: Telangana attracted major investments on Tuesday in the ongoing World Economic Forum (WEF) meeting in Davos.
American multinational food company PepsiCo stated that it was planning to expand big in Hyderabad. The Global Business Services Center of PepsiCo which started with 250 people in 2019 has become 2,800 strong and plans to grow to 4,000 within the next one and half years.
Roberto Azevedo, EVP, corporate affairs, PepsiCo, met industries minister K.T. Rama Rao at the Telangana Pavilion on the sidelines of WEF and discussed about the company’s plans in the state. The minister assured that the state government would extend all possible cooperation for all future investments of the company.
Allox Advance Materials Pvt Ltd signed an MoU with the state government for setting up of a C- LFP (Lithium Iron Phosphate) active battery material production unit in Telangana.
The state-of-the-art facility involves an investment of ₹210 crore with an initial capacity of 3GWH/PA to be expanded to a capacity of 10GWH with a total investment outlay of ₹750 crore by 2030. The proposed facility will create employment for 600 highly skilled and semi-skilled professionals.
Rama Rao said the government was actively working on promoting adoption of EVs and towards developing a comprehensive manufacturing ecosystem. He said the state was emerging as the most preferred destination for EV and advanced chemistry cell manufacturing.
Apollo Tyres Ltd, in partnership with the state government, announced the launch of a Digital Innovation Centre in Hyderabad. An MoU in this regard was signed by IT principal secretary Jayesh Ranjan and Neeraj Kanwar, vice-chairman and MD, Apollo Tyres Ltd. Apollo Tyres has its first Digital Innovation Centre in London.
Rama Rao, said “Telangana has a vibrant innovation ecosystem, with world-class organisations such as T-Hub, We Hub and T-Works enabling innovative ideas. Therefore, Telangana and Hyderabad are the perfect choice for Apollo Tyres’ Digital Innovation Centre.”
