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The Dubai-based diversified Bin Zayed group has come up with a proposal to invest about Rs 12,500 crore in Telangana in the infrastructure sector.
A memorandum of understanding was inked in Dubai in the presence of Sheikh Bin Zayed Ali, Chairman of the Group and Arvind Kumar, Principal Secretary and Resident Commissioner at New Delhi for the Telangana government.
According to the group, the progress made by the state in the last three years after its formation and its infrastructure attracted them to consider making fresh investments.
The group outlined their plans and hinted at their interest in the development of roads, game and animation towers to come up in Hyderabad, the Musi river front development, Mission Bhageratha and the TS Fibre Grid projects.
A high-level delegation from the group will shortly visit Hyderabad to take the engagement forward.
The MoU was inked on the sidelines of the India-UAE Partnership Summit.
Providing details about the state's initiatives and the new industrial policy, which has attracted investments in the state, Arvind Kumar said broadly 14 areas have been identified for focus, which include pharma, life sciences, aerospace and defence, IT and textiles.
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