Vingroup has signed a Memorandum of Understanding with the Government of Telangana for a proposed USD 3 billion investment to be carried out in phases. The agreement was announced at the Telangana Rising Global Summit and aims to develop a multi-sector ecosystem across the state.
Under the MoU, both sides will explore opportunities across smart urban development, electric mobility, healthcare, education, tourism and renewable energy. The collaboration covers around 2,500 hectares of land and includes charging infrastructure and electric taxi services.
In the mobility department, Vingroup plans to introduce India’s first large-scale electric taxi fleet using VinFast vehicles through GSM. The Group may also assess future EV manufacturing opportunities in the state.
For urban development, Vingroup intends to build the Vinhomes Smart City over 1,080 hectares, designed for around 2 lakh residents and expected to create about 10,000 jobs. The proposal includes mixed housing, amenities and sustainable development.
There is also a proposal for developing education, healthcare and charging facilities over 70 hectares, including Vinschool, Vinmec and V-Green networks. In tourism, VinWonders plans a theme park, zoo and safari spread across 350 hectares.
In renewable energy, Vingroup aims to set up a 500 MW solar farm over 500 hectares to support urban areas, industrial zones and mobility needs. The Telangana government will support the land allocation, planning and administrative processes.
