Davos: The Telangana delegation received an Expression of Interest (EOI) from a joint venture, Slovakia-based IQ Capital and India’s Green House Enviro, to develop a Rs 6,000 crore Small Modular Reactor (SMR) clean energy project in Telangana on the second day of the 2026 World Economic Forum (WEF) in Davos, Switzerland.

The joint venture, NUkler Products, submitted the EOI on Wednesday, January 20, to explore the development of the SMR, with an installed capacity of up to 300 megawatts. The project has a proposed investment value of EUR 600 million (around Rs 6k crore).

Chief Minister Revanth Reddy said that Telangana is keen on encouraging sustainable, clean and advanced energy infrastructure projects.

“Sustainability is a central pillar to Telangana’s pursuit of a net-zero development target by 2047,” he added.

IQ Capital’s group chairman, Dr Jan Babic, CEO and Director Kumar Bavisetty, along with Green House Enviro CEO and Director Molugu Sripal Reddy, shared the EOI with the Chief Minister during a meeting with the state’s delegation.

US-based equity firm signs MoU with Telangana to invest Rs 1,000 crores

The “Telangana Rising” delegation subsequently signed a Memorandum of Understanding (MoU) with a US-based private equity firm, Sagrad, which will invest Rs 1,000 crore over the course of three to five years.

The industrial and investment platform expressed interest in exploring a long-term, phased investment and ecosystem development in Telangana, with an indicative investment scale of up to Rs 1,000 crore.

Sagrad CEO Srinivas Thota met the delegation at the 2026 WEF and discussed various initiative ideas of the company to establish an aviation MRO (Maintenance, Repair, and Overhaul) facility in the state, since the company operates across aerospace, defence, automotive, and advanced manufacturing sectors.

Meanwhile, the CM explained that the state is on its path to create three distinct economic zones: CURE (Core Urban Region Economy) for the services sector, PURE (Peri-Urban Region Economy) for the manufacturing sector, and RARE (Rural Agri Region Economy) for the agriculture economy.

Moreover, Telangana is building two airports, one at Warangal and the other in Adilabad, with Chief Minister Revanth urging the company to explore MRO initiative at either facility.

I-T Minister D Sridhar Babu and Revenue Minister Ponguleti Srinivasa Reddy were also part of the delegation meeting the Sagrad representatives.