Vingroup and Telangana have formalized a MoU aimed at a multi-sector investment proposal totaling USD 3 billion.

Vingroup has entered into a Memorandum of Understanding (MoU) with the Government of Telangana at the Telangana Rising Global Summit for an investment of USD 3 billion. The investment will be utilised in parts to establish a multi-sector ecosystem in the state. 

The MoU states that both the parties will be partnering together to extract opportunities in urban development, electric mobility, healthcare, education, tourism, renewable energy, charging infrastructure spread across 2,500 hectares in Telangana. The strategic alliance will be aiming for Telangana’s development. 

Vingroup Growth Objectives

• In the area of electric mobility, Vingroup will be developing a large-scale electric taxi fleet and mobility-as-a-service platform using the Vinfast vehicles via GSM in Telangana. The group will be also developing advanced EV manufacturing technologies at a later stage. 

• For urban development, Vingroup has proposed the formation of Vinhomes Smart City project which will be developed to accommodate 2,00,000 residents on a 1,080-hectare site. This project will be generating around 10,000 jobs and will be comprising low-rise and high-rise buildings integrated with amenities. 
• Vingroup will be also working towards development of Social infrastructure facilities spread in the area of 70 hectares which will include Vinschool K-12 education system, Vinmec Hospitals, and the enhanced V-Green EV charging network. 
• Vinfast will also develop an integrated tourism and entertainment complex, theme park, zoo, and safari spread across 350 hectares through its in-house VinWonders. 

• Vingroup will be also working in the field of renewable energy and will be investing in a 500 MW solar farm spread across 500 hectares to support energy requirements and conservation for urban areas, industrial zones, and the electric mobility ecosystem. 

The Government of Telangana will be actively participating in land identification and allocation, master planning, and project structuring with approvals and development of proposed infrastructure. The government will be also providing various incentives under the current policies.