Business EconomyPosted at: Jan 21 2026 8:05PM


Rashmi Group signs MoU with Telangana for Rs 12,500-crore steel plant at Davos

Davos/Hyderabad, Jan 21 (UNI) The Chief Minister A Revanth Reddy-led ‘Telangana Rising’ delegation on Tuesday signed a Memorandum of Understanding (MoU) with Rashmi Group for setting up a steel production unit in Telangana with an investment of Rs 12,500 crore and an employment potential of 12,000 direct and indirect jobs.
Rashmi Group Promoter Sajjan Kumar Patwari and Director Sanjib Kumar Patwari met the delegation during the World Economic Forum (WEF) 2026 and expressed readiness to establish the steel plant in the State.
Established in 1966, the conglomerate is globally known for its ductile iron (DI) pipes used in water and sanitation projects and exports to over 40 countries across multiple continents.
Chief Minister Revanth Reddy congratulated IT and Industries Minister D. Sridhar Babu for securing the investment, stating that the project would strengthen Telangana’s growth trajectory.
The Minister said Telangana has emerged as an industrial powerhouse with progressive policies and a strong focus on manufacturing, and assured the company of all support required to set up the unit, including coal supply linkages.
Sanjib Kumar Patwari said the proposed steel plant would involve labour-intensive manufacturing and has the potential to generate large-scale employment.
The two sides also discussed possible partnerships in green manufacturing and the circular economy, with the company expressing interest in energy-efficient steelmaking, waste heat recovery and slag utilisation in line with Telangana’s sustainability goals, according to an official statement on Wednesday.
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