Vietnamese conglomerate Vingroup announced on Tuesday a USD 3 billion investment in Telangana, aiming to create a “multi-sector ecosystem” that will include India’s first large-scale electric taxi fleet, a mobility-as-a-service platform, and extensive real estate developments. The investment was formalised through a memorandum of understanding (MoU) signed during the Telangana Rising Global Summit.
Under the MoU, Vingroup and the Telangana government will explore strategic opportunities across smart urban development, electric mobility, healthcare, education, tourism, renewable energy, and charging infrastructure. The collaboration is expected to boost Telangana’s socio-economic growth and reinforce the state’s vision of sustainable urbanisation.
Vinhomes Smart City Project Planned
Vingroup plans to develop the Vinhomes Smart City, a 1,080-hectare urban township designed to accommodate 200,000 residents. The mega project will feature a blend of low- and high-rise residential buildings, world-class amenities, and sustainable urban planning principles, creating an estimated 10,000 jobs.
“This investment is a massive vote of confidence in the ‘Telangana Rising’ vision, particularly our focus on green infrastructure and sustainable urban development,” said Chief Minister A. Revanth Reddy. He added that the project would accelerate the introduction of India’s first large-scale electric taxi fleet, enhancing the quality of life for residents.
Vingroup also intends to develop social infrastructure across 70 hectares, including Vinschool’s integrated K-12 education system, Vinmec multi-specialty hospitals, and the V-Green EV charging network. In tourism, VinWonders will establish an integrated theme park, zoo, and safari spanning 350 hectares, creating additional employment and boosting Telangana’s tourism landscape.
On the renewable energy front, the company’s subsidiary VinEnergo plans a 500 MW solar farm over 500 hectares, providing clean electricity to urban areas, industrial zones, and the new electric mobility network. The MoU also envisages collaboration on strategic connectivity projects to strengthen regional linkages and urban infrastructure.
The Telangana government has committed to facilitating land allocation, administrative approvals, master planning, and infrastructure support for all projects. Incentives under existing policies may also be extended to encourage swift implementation.
Source: Businessworld