AI City to come up in Hyderabad under PPP mode

An Artificial Intelligence City spanning 200 acres in the Future City, would be set up near Hyderabad under the Public-Private Partnership (PPP) mode, said Industries Minister D Sridhar Babu

Hyderabad: Industries Minister D Sridhar Babu on Tuesday said an Artificial Intelligence City would be developed in Hyderabad under the Public-Private Partnership (PPP) mode, spanning 200 acres in the Future City.

Consultations were underway with international experts to finalise physical and technical infrastructure. “The planning is in its final stages, and the foundation stone will be laid in a couple of weeks,” the Minister said.

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He also announced that UAE-based firms Shaiva Group and Taranis Capital had signed Memorandums of Understanding (MoUs) with five Telangana-based companies, involving investments of Rs.2,125 crore. These partnerships are expected to generate 5,020 jobs across the State.

In a major relief to small businesses, Sridhar Babu said the government had released Rs.400 crore towards pending subsidy dues of MSME units in the first phase.

“Nearly Rs.4,700 crore in dues are pending. These will be cleared in phases, and the MSME sector should appreciate the government’s efforts,” he added.