Swachh Bio to invest Rs 1,000 cr in Telangana

Hyderabad: Swachh Bio, a lignocellulosic biofuel manufacturing company, has come forward to invest over Rs 1,000 crore and set up a bio-fuel plant in Telangana.

The firm announced a capital investment of over Rs 1,000 crore, in the first phase, which will provide employment to 250 people at the plant, and 250 people in additional support and other roles. The company entered into an agreement with the government following a meeting Praveen Paripati, Chairperson, Swachh Bio, had with Chief Minister Revanth Reddy on Tuesday during his second day of official meetings with top businessmen in the US. IT and ITES companies also are said to have evinced keen interest in investing in Telangana.

Swachh Bio’s international partner, Suganit Biorenewables, has developed a patented and viable technology in producing biofuels and biochemicals from biomass and cellulose, which would add to the Telangana government’s active efforts towards sustainable and eco-friendly growth of the state.

Trigyn Trigyn Technologies, which is a global digital and intelligence solutions provider with an ecosystem of data, analytics and AI startups, announced the establishment of an AI innovation and delivery centre in Hyderabad, which will hire, train and grow to a total capacity of over 1,000 people in the next three years. The company, with a total revenue of over $160 million, has around 100 people currently in Hyderabad out of its global force of over 2,500 people, out of which, 1,000 are in India.

The firm, which has been a technology partner to the UN and its organisations around the world for over two decades, expressed confidence in Telangana and Hyderabad, after the meeting of the official delegation. Another global company, Arcesium, which was launched as an independent entity backed by DE Shaw group and Blackstone Alternative Asset Management (BAAM), decided to expand its activities in Hyderabad. As part of expansions, the company will hire 500 high-end tech talent in Hyderabad in the next two years. Revanth Reddy expressed his support for the expansion, highlighting the state government’s focus on fostering growth in the IT sector. “We are thrilled that Arcesium is expanding its operations in Hyderabad. This expansion not only strengthens the company’s global capabilities but further reinforces Hyderabad’s position as a leading hub for technology and innovation in the BFSI space,” the Chief Minister said.