Telangana Inks MoU with Skyroot for Private Rocket Manufacturing Facility

The Telangana government has entered into an MoU with Skyroot for a comprehensive, private facility for rocket manufacturing, integration, and testing at Davos. CM Revanth Reddy has expressed delight with the development, saying, "Nothing like seeing our homegrown firms making it big on a global level" 

Chief Minister Reddy and IT and Industries Minister D. Sridhar Babu facilitated the signing of a Memorandum of Understanding (MoU) with Skyroot Aerospace, a company from Hyderabad in the space technology field.

The MoU foresees the company setting up a comprehensive private rocket manufacturing, integration, and testing facility in Telangana. The upcoming project will have Skyroot investing approximately Rs 500 crore, making it one of the largest integrated private-sector facilities for rocket manufacturing, integration, and testing.

"I am delighted to see a Hyderabad-based company achieving great success. I welcome their decision to invest in Telangana. This agreement demonstrates how young minds of Telangana are working on every fascinating cutting-edge technology in the world," the CM said.

"The partnership with Skyroot highlights Telangana's strategic focus on Space and Aerospace sectors. We will soon make Hyderabad the focal point of private sector space work," IT and Industries Minister D. Sridhar Babu added.

Pawan Kumar Chandana, co-founder Skyroot , said, "We are delighted to be investing in Telangana under the leadership of Shri Revanth Reddy garu. After a long time, there is great energy and optimism about the state and its future. We want to be part of the Telangana Rising and Hyderabad Rising vision and mission."