Hyderabad: Rashmi Group, a major Indian industrial conglomerate, has signed a Memorandum of Understanding (MoU) with the Telangana government to set up a ₹12,500 crore steel plant in the state. The project will generate 12,000 direct and indirect jobs.
The deal was finalized during a meeting at the World Economic Forum 2026. Chief Minister A. Revanth Reddy led the ‘Telangana Rising’ delegation. During the session, Rashmi Group promoter Sajjan Kumar Patwari and Director Sanjib Kumar Patwari confirmed their commitment to the initiative.
Rashmi Group to boost Telangana’s industrial landscape
Founded in 1966, Rashmi Group operates globally and is best known for its ductile iron pipes, which are widely used in water and sanitation projects. The company exports to more than 40 countries across Asia, Europe, Africa, and the Americas.
Industries Minister D. Sridhar Babu, who played a key role in attracting the investment, stated that the steel plant aligns with Telangana’s industrial development goals. He emphasized that the government would extend complete support, including coal supply arrangements.
Chief Minister Revanth Reddy praised Sridhar Babu’s efforts and welcomed the group’s entry into Telangana’s expanding manufacturing sector.
Sanjib Kumar highlighted that the steel plant would follow a labour-intensive model, which will lead to significant job creation. Moreover, he expressed interest in collaborating on green manufacturing, energy-efficient steelmaking, and circular economy initiatives like slag reuse and waste heat recovery.
At Davos, the Government of Telangana entered into an MoU with Rashmi Group for a ₹12,500 crore investment to establish a steel production unit in the State, with the potential to create nearly 12,000 direct and indirect jobs. The company’s leadership, Mr. Sajjan Kumar Patwari… pic.twitter.com/xLQ3wqjy05
— Sridhar Babu Duddilla (@OffDSB) January 21, 2026